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Modeling and analysis of renewable energy obligations and technology bandings in the UK electricity market

机译：英国电力市场中可再生能源义务和技术范围的建模和分析

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In the UK electricity market, generators are obliged to produce part of their electricity with renewable energy resources in accordance with the Renewable Obligation Order. Since 2009 technology banding has been added, meaning that different technologies are rewarded with a different number of certificates. We analyze these two different renewable obligation policies in a mathematical representation of an electricity market with random availabilities of renewable generation outputs and random electricity demand. We also present another, alternative, banding policy. We provide revenue adequate pricing schemes for the three obligation policies. We carry out a simulation study via sampling. A key finding is that the UK banding policy cannot guarantee that the original obligation target is met, hence potentially resulting in more pollution. Our alternative provides a way to make sure that the target is met while supporting less established technologies, but it comes with a significantly higher consumer price. Furthermore, as an undesirable side effect, we observe that a cost reduction in a technology with a high banding (namely offshore wind) leads to more CO_2 emissions under the UK banding policy and to higher consumer prices under the alternative banding policy.
机译：在英国的电力市场中，发电机有义务根据《可再生能源义务令》使用可再生能源来生产部分电力。自2009年以来，增加了技术等级，这意味着不同的技术将获得不同数量的证书。我们用电力市场的数学表示分析了这两种不同的可再生义务政策，该市场具有可再生发电输出的随机可用性和随机电力需求。我们还提出了另一种替代条带政策。我们为三项义务政策提供了适当的收入定价方案。我们通过采样进行模拟研究。一个关键发现是，英国的捆绑政策不能保证达到最初的义务目标，因此有可能导致更多的污染。我们的替代方案提供了一种方法，可以在支持较落后的技术的同时确保达到目标，但是却带来了更高的消费者价格。此外，作为不利的副作用，我们观察到，采用高等级（即海上风能）的技术，降低成本会导致英国分级政策下的CO_2排放量增加，以及其他分级政策下的居民价格上涨。

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