Electricity markets were designed for a world of fuel-based power plants. With high shares of wind and solar power, questions of market design move to the centre: Do energy-only markets deliver enough investment? What can capacity remuneration mechanisms achieve, and what do they cost? How should bidding zones be drawn, and what does a common European market design bring?
This research combines economic theory, the analysis of real-world implementations and agent-based simulation to evaluate design options before they are put into practice.