Episode
77

Energy Market Design with Sheldon Fulton

March 22, 2023
|
Duration:
2317843
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In This Episode:

Join David Arkell, John Pooley, Lysandra Naom, and Sheldon Fulton, President of Forte Business Solutions Ltd. on an episode all about energy market design. This episode features merits of regulated and unregulated markets, net zero energy markets, DERS, energy security, and more. Check out our 360 Carbon Excellence Program.

Highlights

  • Regulated vs. Deregulated Markets: In regulated markets, governments set energy prices and manage outcomes, while deregulated markets use price mechanisms to allocate resources and enable independent decision-making.
  • Price Signals for Renewable Adoption: Effective price signals are critical for driving investments in renewable energy. Deregulated markets can encourage renewables if designed with appropriate pricing structures and risk allocation.
  • Market Design for Net Zero Goals: Achieving Net Zero in energy markets requires:
    1. Accurate price signals.
    2. Clear performance metrics for energy providers.
    3. Effective risk management to enable balanced risk sharing between producers and consumers.
  • Distributed Energy Resource (DER) Integration: DERs, such as rooftop solar, can enhance grid resilience, reduce costs, and localize energy generation. Successful integration, however, requires supportive regulations and active consumer participation.
  • Challenges with Current Market Structures: Many existing markets, like Alberta's, are not optimized for renewable energy adoption, often shifting risk to consumers and failing to provide adequate incentives for low-carbon solutions.

    • Key Insights

  • Balancing Market Incentives with Security: Resilient and low-carbon energy markets require price signals that reward reliable, low-carbon options while discouraging high-carbon sources through appropriate penalties.
  • Consumer Role and Awareness: Educating consumers on market dynamics, including cost components like transmission and distribution, can improve demand response and encourage support for cleaner energy options.
  • Risk Distribution and Investment: Effective market designs allocate investment risks to producers, who are better equipped to manage them, fostering sustainable and cost-effective growth in energy infrastructure.
  • Distributed Generation Incentives: Markets should provide incentives for DER investments, such as solar panels, based on their grid value, reducing dependence on centralized, high-carbon energy systems.
  • Importance of Transparency in Market Governance: Transparent governance is essential to address inefficiencies, align market operations with societal goals like decarbonization, and enhance energy security.
    • Share this story
    Energy Infrastructure
    Energy Investment
    Energy Markets
    Risk Management
    Net Zero
    Renewable Energy
    Energy Security
    Demand Response
    Distributed Generation
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