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Title: Transmission investment, access and pricing in bilateral electricity markets with significant intermittent generation
Author: Vasilakos Konstantinidis, Christos
ISNI:       0000 0004 2741 8546
Awarding Body: Imperial College London
Current Institution: Imperial College London
Date of Award: 2013
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In order to achieve the European and national decarbonization targets and ensure the development of a flexible and secure electricity system significant grid expansion will be necessary so as to connect the usually remotely located renewable generation and geographically optimize access to flexible generation. However, the current technical, market and regulatory frameworks that support the investment and operation of the transmission system both in Great Britain and continental Europe were devised for a system without this significant penetration of intermittent generation. This thesis focuses on the necessary changes of the transmission investment, access and pricing arrangements of bilateral electricity markets, as opposed to centralized pools, so as to facilitate the triptych of decarbonization, security of supply and cost efficiency. The main research topics are: 1) Short term transmission access pricing 2) Transmission tariff design 3) Transmission rights market design 4) Transmission investment pricing signals This analysis has resulted for the first time in the development of a theoretically optimum set of arrangements for short term transmission access pricing in bilateral electricity markets, which is compatible with the markets found in Great Britain and Europe. Furthermore, a complete modelling framework has been developed for evaluating the long-term welfare effects of different transmission tariff designs capturing the dynamic relationship between transmission and generation investment through transmission pricing. An extensive analysis is carried out on transmission rights market design options for cross-border power trading and a set of policy proposals is presented. Lastly, the transmission investment pricing signals in bilateral electricity markets are examined and it is proved that transmission planning based on a Cost Benefit Analysis between balancing mechanism and transmission investment cost, as is currently the practice, will lead to sub-optimal system expansion. Based on this conclusion a number of policy proposals are put forward.
Supervisor: Strbac, Goran Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available