Learning from electricity markets: how to design a resilience strategy

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• dc.contributor.author Fabra, Natalia
• dc.contributor.author Motta, Massimo
• dc.contributor.author Peitz, Martin
• dc.date.accessioned 2025-03-18T07:41:58Z
• dc.date.available 2025-03-18T07:41:58Z
• dc.date.issued 2022
• dc.description.abstract Security of supply concerns are at the forefront of the public debate. The pandemic and post-pandemic times have demonstrated that preparing for global shocks requires the quick availability of some essential goods and services, including energy. Private incentives are typically insufficient for an economy to be prepared for rare events with large negative impacts. Instead, governments and preferably supranational institutions should implement mechanisms that make sure that prevention, detection and mitigation measures are taken. The economics of electricity capacity mechanisms provides valuable lessons for the provision of essential goods in such events, which need to be complemented with other elements aimed at mitigating the causes and impacts of potential crises.
• dc.description.sponsorship Natalia Fabra gratefully acknowledges funding from the European Research Council (Grant Agreement No 772331 ELECTRIC CHALLENGES). Massimo Motta gratefully acknowledges financial aid from the Spanish Agencia Estatal de Investigación (AEI) and FEDER (project ECO2016-76998-P) and from “Ayudas Fundación BBVA a Equipos de Investigación Científica 20192” (project on “Digital platforms: effects and policy implications”). Martin Peitz gratefully acknowledges financial support from the Deutsche Forschungs-gemeinschaft (DFG) through CRC TR 224 (project B05). Mateus Souza provided excellent research assistance.
• dc.format.mimetype application/pdf
• dc.identifier.citation Fabra N, Motta M, Peitz M. Learning from electricity markets: how to design a resilience strategy. Energy Policy. 2022 Sep;168:113116. DOI: 10.1016/j.enpol.2022.113116
• dc.identifier.doi http://dx.doi.org/10.1016/j.enpol.2022.113116
• dc.identifier.issn 0301-4215
• dc.identifier.uri http://hdl.handle.net/10230/69952
• dc.language.iso eng
• dc.publisher Elsevier
• dc.relation.ispartof Energy Policy. 2022 Sep;168:113116
• dc.relation.projectID info:eu-repo/grantAgreement/EC/H2020/772331
• dc.relation.projectID info:eu-repo/grantAgreement/ES/1PE/ECO2016-76998-P
• dc.rights © 2022 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/bync-nd/4.0/).
• dc.rights.accessRights info:eu-repo/semantics/openAccess
• dc.rights.uri https://creativecommons.org/licenses/by-nc-nd/4.0/
• dc.subject.keyword Resilience
• dc.subject.keyword Prevention
• dc.subject.keyword Detection
• dc.subject.keyword Mitigation
• dc.subject.keyword Electricity capacity markets
• dc.subject.keyword Essential goods
• dc.title Learning from electricity markets: how to design a resilience strategy
• dc.type info:eu-repo/semantics/article
• dc.type.version info:eu-repo/semantics/publishedVersion