CAPACITY REMUNERATION MECHANISM (CRM) IN RESPONSE TO MARKET CONDITIONS FOR ELECTRICITY PRODUCTION IN A SMALL OPEN ECONOMY
Journal Title: Journal L`Association 1901 SEPIKE - Year 2018, Vol 2, Issue 3
Abstract
The electricity market is specific. Because it is inherently unstable in the long run, a special form of its regulation has been developed, in effect throughout the world. According to this regulation, the electricity market operators use special instruments to prevent a cyclical shortage of electricity. One of these instruments, Capacity Remuneration Mechanism (CRM), is presented in this research. Here, a theoretical introduction is followed by a presentation of the potential losses to a small open economy in the case of a blackout. Then an analysis is given of the electricity prices in two chosen EU countries (Germany and Slovenia) with clear signs of deep 4 The authors acknowledge the financial support from the Slovenian Research Agency (research core funding No. P5-0287)71 instability in the market. Our research ends with the CRM description in its different forms, as established around the world.
Authors and Affiliations
France KRISANIC, Zan OPLOTNIK, Vasja KOLSEK, Alenka KAVKLER
Keywords
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