ADBI-Stanford University Virtual Workshop on Electricity Markets in a High-Renewables World

Event | 29 September - 1 October 2020
Online

Time of event

10:30–12:30 Tokyo time

Summary

Governments around the world are implementing increasingly ambitious renewable energy targets. Installing wind farms and solar parks is only part of the challenge of achieving these goals. Another, more technically complex task is ensuring that an electricity supply system can accommodate a high share of wind and solar energy.

This virtual workshop co-hosted by ADBI and Stanford University’s Program on Energy and Sustainable Development examined the challenges of integrating high shares of variable renewable energy into electricity markets. Participants played the role of electricity generation companies in a web-based game that included three modules.

The first module covered the basic functioning of wholesale electricity markets, including how the exercise of market power can make them less cost-effective. The second module discussed how forward contracting for electricity can discourage generators from trying to exercise market power and how this could prevent market blow-ups. The third module explored how electricity markets will look different in a high-renewables world and how forward contracting can ensure resource adequacy.

Objectives
  • Build understanding of the dynamics of electricity markets and test various renewable and climate policy scenarios
  • Promote critical thinking and problem-solving mindsets to deal with climate change issues and formulate effective energy policies
  • Highlight lessons learned and policy recommendations for the energy market in Asia and the Pacific and encourage regional cooperation
Participants
Output
  • Enhanced policy maker capacity to address the challenges of integrating renewable energy into electricity markets
  • Greater impetus for research partnership and collaboration
  • Policy brief highlighting the virtual workshop’s key messages and policy guidance
  • Select workshop lecture recordings may be made publicly available
How to register

By invitation or prior arrangement with ADBI

Partner

Program on Energy and Sustainable Development, Stanford University