Simulating the new British Electricity-Market Reform

摘要: Abstract The British government is implementing fully its novel Electricity Market Reform (GB EMR). Its objective, in line with European directives, aims at replacing existing nuclear and coal plant low-carbon systems, to deliver reliable affordable power. Though the GB EMR has proposed several policy instruments for meeting objectives, academic literature discussed main issues, no known report includes a comprehensive dynamic simulation exercise that assesses extent of this profound important initiative. This paper presents system dynamics model supports analysis long-term effects various have been EMR, focusing on environmental quality, security supply economic sustainability. Using lessons learned from simulation, concludes effectively achieving objectives requires intervention or similar one promotion low carbon electricity generation through simultaneous implementation direct indirect incentives, such as price floor, Feed Tariff (FIT) capacity mechanism.