Innovations in Electricity Market Design for Solar and Wind Integration
The joint webinar by the International Renewable Energy Agency (IRENA) and the European Union Agency for the Cooperation of Energy Regulators (ACER) discussed the role of innovation for the integration of high shares of solar PV and wind resources in a market-based power system, with focus on the interconnected market-based European power system.
IRENA showcased how adopting a systemic innovation approach can help countries raise ambitions in terms of renewable power by providing an overview of the 8 innovations in wholesale and retail market design from IRENA’s first-of-its-kind Innovation Landscape Report. Key focus was put on how to incentivise flexibility via innovative market design elements, like increasing the time and space granularity in wholesale electricity markets and the provision of innovative ancillary services by renewable assets.
IRENA’s presentation was complemented with insights into the pan-European electricity market covering 25 European countries, focusing on the lessons learned from cross-border cooperation of National Regulatory Authorities for the implementation of the day-ahead and intraday trading timeframes and their impact on renewable energy supply in Europe. Market monitoring findings at pan-European level, as well as key provisions of the “Clean Energy for all Europeans” legislative package for the electricity market design were also on the agenda.
Speakers:
- Elena Ocenic, IRENA
- Mathieu Fransen, ACER
Moderated by Arina Anisie, IRENA