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Modelling The New Model: The electricity wholesale market after the Helm Review

British Institute of Energy Economics

Wednesday, 7 February 2018 from 16:30 to 18:30 (GMT)

Modelling The New Model: The electricity wholesale...

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Public   more info 7 Feb 2018 £15.00 £1.88

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Event Details

BIEE Climate and Energy Seminar:

Modelling The New Model: The electricity wholesale market after the Helm Review 

The Helm Review has recommended that the government should adopt a system of auctions for “equivalent firm capacity” to support investment in electricity generation capacity.  In a first-best policy world, this would be supplemented by an economy-wide carbon tax; in the second-best version, the auction would have to function under a constraint on carbon emissions from the electricity sector.  The review also points out that there will be many hours in which the marginal cost of electricity is effectively zero, if wind, solar and nuclear power are capable of meeting the entire demand.  The presentation will cover modelling results showing what this market might look like in practice.  While this modelling will focus on one chapter of the review, discussion during the seminar might well range more widely.

Speaker: Richard Green, Imperial College

Prof Richard Green, Imperial College

Richard Green, Professor of Sustainable Energy Business at Imperial College Business School, has been studying the economics and regulation of the electricity industry for over 25 years.  He has written extensively on market power in wholesale electricity markets and has also worked on transmission pricing.  More recently, the main focus of his work has been on the impact of low-carbon generation (nuclear and renewables) and energy storage on the electricity market, and the business and policy implications of this.  He was the chair of the BIEE in 2016.

Venue

NERA Economic Consulting
Marble Arch House

66 Seymour Street
London
W1H 5BT

 

Do you have questions about Modelling The New Model: The electricity wholesale market after the Helm Review? Contact British Institute of Energy Economics

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When & Where


NERA Economic Consulting
Marble Arch House
66 Seymour Street
W1H 5BT
United Kingdom

Wednesday, 7 February 2018 from 16:30 to 18:30 (GMT)


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Organiser

British Institute of Energy Economics

The British Institute of Energy Economics provides a focal point for informed energy debate in the UK. It aims to promote a responsible, evidence based approach to the challenges of energy policy and tackling climate change.

 

Founded over 30 years ago, the British Institute of Energy Economics (BIEE) encourages the exchange of ideas and information between energy professionals from different disciplines and sectors of the industry.

 

BIEE has a diverse membership drawn from academia, business, government and finance. It convenes a regular programme of meetings, seminars and conferences.

 

It is a registered charity and company limited by guarantee.

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Modelling The New Model: The electricity wholesale market after the Helm Review
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