DOI: 10.1016/j.enpol.2020.111640
论文题名: Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets
作者: de Frutos Cachorro J. ; Willeghems G. ; Buysse J.
刊名: Energy Policy
ISSN: 03014215
出版年: 2020
卷: 144 语种: 英语
中文关键词: Electricity markets
; Generation capacity investments
; Level of market competition
; Nuclear phase-out uncertainty
英文关键词: Competition
; Game theory
; Nuclear fuels
; Nuclear reactor licensing
; Power markets
; Uncertainty analysis
; Capacity decisions
; Competitive markets
; Electricity generation capacity
; License extension
; Long-term investment
; Optimization approach
; Perfect competition
; Structural modeling
; Investments
; competition (economics)
; electricity generation
; electricity supply
; energy market
; game theory
; investment
; nuclear power
; oligopoly
; optimization
; uncertainty analysis
; Belgium
英文摘要: In view of the ongoing nuclear power debate in Europe, we analyze how uncertainty about a nuclear phase-out affects investment capacity decisions by Belgian electricity suppliers depending on the type of market structure considered. To achieve this goal, we build a structural model and solve it by using game-theoretic and optimization approaches, in order to consider the different types of market structure, namely oligopoly (simplified to a duopoly in this case), and the two extremes of the competition spectrum, i.e., monopoly and perfect competition. We show that higher levels of investment in new electricity generation capacity are reached with decreasing probability of nuclear license extension and/or with higher levels of competition in the market. Moreover, investments in perfectly competitive markets are less influenced by changes in the probability of future nuclear license extension, resulting in a more stable long-term investment climate. However, the consideration of possible changes in market structure and gradual nuclear phase-out is crucial in order to not overestimate investment potential in Belgium. © 2020 Elsevier Ltd Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167114
Appears in Collections: 气候变化与战略
There are no files associated with this item.
作者单位: Departament de Matemàtica Econòmica, Financera i Actuarial and BEAT, Universitat de Barcelona, Avinguda Diagonal 690, Barcelona, 08034, Spain; EnergyVille, ThorPark 8310, Genk, 3600, Belgium; VITO, Boeretang 200, Mol, 2400, Belgium; Department of Agricultural Economics, Faculty of Bioscience Engineering, Ghent University, Coupure Links 653, Ghent, 9000, Belgium
Recommended Citation:
de Frutos Cachorro J.,Willeghems G.,Buysse J.. Exploring investment potential in a context of nuclear phase-out uncertainty: Perfect vs. imperfect electricity markets[J]. Energy Policy,2020-01-01,144