Full Title: Let’s Get Organized! Long-Term Market Design For A High-Penetration Grid
Author(s): Eric Gimon
Publisher(s): Energy Innovation
Publication Date: September 28, 2022
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This paper describes how to support continued rapid investment in new clean energy resources and retirement of dirty energy resources even as the raw output from variable energy resources gets more and more out of sync with customer demand profiles. It lays out principles for an “electricity markets cascade” that efficiently recruits capital for electric sector investment to deliver on investor expectations of risk and return while meeting customer and policymaker expectations for a least-cost, clean, and reliable grid. It also proposes a new feature, Organized Long-Term Markets, as part of the standard design for restructured wholesale electricity markets.