The analysis of security of electricity supply (SoES) is particularly complex due to, among others, the liberalisation process and the increasing penetration of renewable energies. Larsen et al. (2016) propose a framework based on twelve dimensions to evaluate SoES for a single jurisdiction....

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped‐hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a model based on peak‐load‐pricing theory to describe...

We analyze how a product's design hierarchy shapes the evolution of the underlying body of technological knowledge, building on the literature on technological evolution in complex products. This literature suggests that the design hierarchy of a product can have an ordering effect on the...

The emerging literature on power markets with high shares of fluctuating renewables suggests that more frequent start-up procedures of thermal power plants may become an increasing concern, both for costs and possibly also for market design. Based on official scenario assumptions, we investigate...