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Business leadership for a climate neutral economy

14 August 2018 – Commissioned by CISL and first published in April 2017, this working paper on the future of the EU electricity market was published in the leading academic journal Renewable and Sustainable Energy Reviews.

Market design for a high-renewables European electricity systemThe paper, published in the August issue of the prominent journal, presents a set of policy recommendations for the market design of a future European electricity system characterised by a dominant share of intermittent renewable energy supply (RES), in line with the stated targets of European governments.

Authored by David Newbery, Michael G. Pollitt, Robert A. Ritz, Wadim Strielkowski at the Energy Policy Research Group (EPRG), the paper discusses the market failures that need to be addressed to accommodate RES in liberalised electricity markets, reviews the evolution of the EU’s RES policy mechanisms, and summarises the key market impacts of RES to date. It then sets out economic principles for market design and uses these to develop policy recommendations.

Renewable and Sustainable Energy Reviews aims to share problems, solutions and new ideas to support the transition to low carbon future. The journal publishes review papers, original research, case studies and new technology analyses that have a significant review element, which may take the form of a critique, comparison, or analysis. 

Read the paper here, and discover more about CISL's Low Carbon Transformation leadership group.