Challenges in Capacity Market Design
While capacity markets have been implemented in several regions, many challenging questions remain in the design arena, for instance:
- What primary purposes should a capacity market serve?
- How is a capacity market design compared to an energy-only design?
- What is the capacity demand in the absence of demand bids from market participants?
- What quantity of capacity can a resource offer into the capacity market?
- How to define and measure the capacity obligation?
- How to price the capacity product when the market clearing problem is nonconvex?
This talk will cover some of these capacity market design topics. Some existing designs will be used as examples to facilitate the discussion and demonstrate the challenges.
Date and Time
Location
Hosts
Registration
- Date: 14 Jan 2025
- Time: 02:00 PM to 03:00 PM
- All times are (UTC-05:00) Eastern Time (US & Canada)
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- Starts 06 January 2025 12:00 PM
- Ends 14 January 2025 02:00 PM
- All times are (UTC-05:00) Eastern Time (US & Canada)
- No Admission Charge
Speakers
Feng Zhao
Biography:
Feng Zhao (Senior Member, IEEE) received the B.S. degree in automatic control from Shanghai JiaoTong University, Shanghai, China, in 1998, the M.S. degree in control theory & control engineering from Tsinghua University, Beijing, China, in 2001, and the Ph.D. degree in electrical engineering from the University of Connecticut, Storrs, CT, USA, in 2008. He is Manager of Market Solutions and Optimization Technology at ISO New England, Inc, with major responsibilities of electricity markets design, modeling and analysis; and interdisciplinary research in markets, optimization and power systems. His recent years of research and industrial experience has focused on pricing with nonconvexity, modeling and solving power system problems with uncertainty, market to market coordination, demand curve design, resource capacity accreditation, etc.