Securing Power during the Transition : Generation Investment and Operation Issues in Electricity Markets with Low‐Carbon Policies

At the October 2011 Governing Board Meeting at Ministerial Level, IEA member countries endorsed the IEA Electricity Security Action Plan (ESAP). The proposed electricity security work program reflects the challenge of maintaining electricity security while also seeking to rapidly reduce carbon dioxide emissions of the power systems. In particular, the large-scale deployment of renewables needed to meet low-carbon goals is technically feasible. However, it will lead to more volatile, real-time power flows, which will create new challenges for maintaining electricity security.