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Türkiye için Piyasa Tabanlı Bir Kapasite Mekanizması Modeli

Year 2023, Volume: 26 Issue: 4, 1375 - 1392, 01.12.2023
https://doi.org/10.2339/politeknik.1115044

Abstract

Liberal bir elektrik sektöründeki piyasa oyuncuları, ikili anlaşmalar veya organize platformlar yoluyla enerji ticaretine tabidir. Bu platformlar aracılığıyla yalın-enerji ticareti, meşhur “kayıp para problemi” olgusu nedeniyle sistem güvenilirliği için gerekli koşulları sağlamada yetersiz kalabilir. Arzu edilmeyen yük kaybını önlemek için zamanla ilave piyasa mekanizmaları geliştirilmiştir. Bazı piyasalar, piyasa bazlı veya piyasa bazlı olmayan modeller aracılığıyla sistem güvenilirliğini güvence altına almak için kapasite fiyatlandırma mekanizmalarını geliştirmiştir. Spesifik olarak, Türkiye elektrik piyasasında düzenleyici otorite, önceden belirlenmiş koşulları yerine getiren üreticilerin kurulu kapasitelerine göre ücret aldığı “doğrudan ödeme” yaklaşımını uygulamıştır. Bu mekanizma, piyasa fiyatı oluşumuyla ilişkisi nedeniyle “yarı-piyasa temelli” bir model olarak düşünülebilir. Ancak bu model prensip olarak, kurulu güç miktarına dayalı doğrudan ödeme yapısına sahip olması nedeniyle piyasa bazlı olmayan bir model olarak kategorize edilmelidir. Bu çalışmada, Türkiye'deki mevcut kapasite fiyatlandırma mekanizması incelenmiş, alternatif bir piyasa bazlı ihale modeli geliştirilmiş ve sonuçları Monte Carlo analizi ile benzetime tabi tutulmuştur. Çalışma ayrıca, önerilen piyasa temelli modelin mevcut yaklaşıma göre karşılaştırmalı avantajlarını gösterirken önerilen modelin elektrik piyasası reform hedefleriyle tamamen uyumlu bir şekilde sistem güvenilirliğini koruma açısından mevcut duruma göre neden daha iyi bir seçenek olduğunu açıklamayı hedeflemektedir.  

References

  • [1] EPDK, Elektrik Piyasası Sektör Raporu- Ocak 2021, EPDK, 1. URL: https://www.epdk.gov.tr/Detay/Icerik/3-0-23-3/elektrikaylik-sektor-raporlar (2021).
  • [2] Cramton, P., Ockenfels, A. and Stoft, S.,Capacity Market Fundamentals. Economics of Energy & Environmental Policy, 2(2): 27-46, (2013).
  • [3] Zoettl, G.,On Optimal Scarcity Prices. International Journal of Industrial Organization, 29(5): 589-605,(2011).
  • [4] Hogan, W.W. On an “ENERGY ONLY” electricity market design for resource adequacy, Working Paper, Center for Business and Government John F. Kennedy School of Government Harvard University, Boston,(2005).
  • [5] Miera, G.S., González,P.D.R., and Ignacio, V. , Analysing the impact of renewable electricity support schemes on power prices: The case of wind electricity in Spain. Energy Policy, 36(9):3345-3359,(2008).
  • [6] Oren, S.S. 2000. Capacity Payments and Supply Adequacy in Competitive Electricity Markets. VII. Symposıum of Specialists in Electric Operational and Expansion Plannıng, Curtiba-Brasil. Accessed April 4, (2021). https://oren.ieor.berkeley.edu/workingp/sepope-p.pdf
  • [7] Burns, S. and Gross. G.,Value of service reliability. IEEE Transactions on Power Systems, 5(3): 825-834,(1990).
  • [8] Łyżwa, W., Olek, B., Wierzbowski, M. and Mielczarski, W.,Why do we need capacity markets?. 11th International Conference on the European Energy Market (EEM14), Krakow, 1-5,(2014).
  • [9] The European Union Agency for the Cooperation of Energy Regulators. 2013. Capacity Remuneration Mechanisms and The Internal Market for Electricity, ACER. Accessed April 6, 2021. https://www.acer.europa.eu/Official_documents/Acts_of_the_Agency/Publication/CRMs%20and%20the%20IEM%20Report%20130730.pdf
  • [10] Bublitz, A., Keles, D., Zimmermann, F., Fraunholz, C. and Fichtner, W.,A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms. Energy Economics, 80:1059-1078, (2019).
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  • [12] TEİAŞ Website, Accessed April 6, 2021. www.teias.gov.tr
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  • [16] Bushnell, J., Flagg, M. and Mansur, E,Capacity Markets at a Crossroads. Haas Institute. Accessed June 15, 2021. https://hepg.hks.harvard.edu/files/hepg/files/wp278updated.pdf
  • [17] Jenkin, T., Beiter, P. and Margolis, R.,Capacity Payments in Restructured Markets under Low and High Penetration Levels of Renewable Energy., NREL,Accessed May 10, 2021. https://www.nrel.gov/docs/fy16osti/65491.pdf
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  • [19] PJM Manual 18: PJM Capacity Market Revision: 46. PJM. Accessed May 10, 2021. https://www.pjm.com/-/media/documents/manuals/archive/m18/m18v46-capacity-market-11-19-2020.ashx
  • [20] CIGRE,Capacity mechanisms: needs, solutions and state of affairs, CIGRE, Working Group C5.17. Accessed May 10, 2021. https://e-cigre.org/publication/647-capacity-mechanisms-needs-solutions-and-state-of-affairs
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  • [22] TEİAŞ 10 Yıllık Talep Tahminleri Raporu 2021-2030, TEİAŞ, Accessed May 10, 2021. https://www.teias.gov.tr/tr-TR/ilgili-raporlar
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  • [26] Timilsina, G. R., Demystifying the Costs of Electricity Generation Technologies. Policy Research Working Paper Series 9303, The World Bank. Accessed June 15, 2021. https://openknowledge.worldbank.org/handle/10986/34018
  • [27] The European Union Agency for the Cooperation of Energy Regulators.,ACER Decision on the Methodology for calculating the value of lost load, the cost of new entry, and the reliability standard-Annex I: Methodology for calculating the value of lost load, the cost of new entry and the reliability standard, ACER. Accessed May 10, 2021.https://www.acer.europa.eu/Official_documents/Acts_of_the_Agency/Individual%20decisions%20Annexes/ACER%20Decision%20No%2023-2020_Annexes/ACER%20Decision%2023-2020%20on%20VOLL%20CONE%20RS%20-%20Annex%20I.pdf
  • [28] İletim Tarifeleri, EPDK, Accessed May 10, 2021. https://www.epdk.gov.tr/Detay/Icerik/3-1520/teias
  • [29] Şubat 2021 Doğalgaz Toptan Satış Tarifesi, BOTAŞ, Accessed June 15, 2021. https://www.botas.gov.tr/uploads/dosyaYoneticisi/877090-ubat_2021_tarifesi_30012021.pdf

A Market Based Electricity Capacity Mechanism Model for Turkey

Year 2023, Volume: 26 Issue: 4, 1375 - 1392, 01.12.2023
https://doi.org/10.2339/politeknik.1115044

Abstract

Market players in a liberalized electricity sector are subject to trading energy through bilateral agreements or organized platforms. Energy-only trading through those venues might fall short in providing the required conditions for system reliability due to the well-known phenomenon of “missing money problem”. In order to avoid unintended loss of load, additional market mechanisms were developed in time. Several markets utilized capacity remuneration mechanisms to secure the system reliability through market-based or non-market-based models. Specifically, in Turkish electricity market, the regulator has implemented “direct payment” approach where generators fulfilling pre-determined conditions receive remunerations based on their installed capacities. This mechanism can be considered as a “quasi-market-based” model due to links to the market price formation. However, in principle, it should be categorized as a non-market-based model due to direct payments based on installed capacity levels. In this study, existing capacity remuneration mechanism in Turkey is analysed, an alternative market-based auctions model is developed and its results are simulated via Monte Carlo analysis. The study also elaborates on comparative advantages of the proposed market-based model over the existing approach and why it is a better option to preserve system reliability while being fully compliant with the electricity market reform goals.

References

  • [1] EPDK, Elektrik Piyasası Sektör Raporu- Ocak 2021, EPDK, 1. URL: https://www.epdk.gov.tr/Detay/Icerik/3-0-23-3/elektrikaylik-sektor-raporlar (2021).
  • [2] Cramton, P., Ockenfels, A. and Stoft, S.,Capacity Market Fundamentals. Economics of Energy & Environmental Policy, 2(2): 27-46, (2013).
  • [3] Zoettl, G.,On Optimal Scarcity Prices. International Journal of Industrial Organization, 29(5): 589-605,(2011).
  • [4] Hogan, W.W. On an “ENERGY ONLY” electricity market design for resource adequacy, Working Paper, Center for Business and Government John F. Kennedy School of Government Harvard University, Boston,(2005).
  • [5] Miera, G.S., González,P.D.R., and Ignacio, V. , Analysing the impact of renewable electricity support schemes on power prices: The case of wind electricity in Spain. Energy Policy, 36(9):3345-3359,(2008).
  • [6] Oren, S.S. 2000. Capacity Payments and Supply Adequacy in Competitive Electricity Markets. VII. Symposıum of Specialists in Electric Operational and Expansion Plannıng, Curtiba-Brasil. Accessed April 4, (2021). https://oren.ieor.berkeley.edu/workingp/sepope-p.pdf
  • [7] Burns, S. and Gross. G.,Value of service reliability. IEEE Transactions on Power Systems, 5(3): 825-834,(1990).
  • [8] Łyżwa, W., Olek, B., Wierzbowski, M. and Mielczarski, W.,Why do we need capacity markets?. 11th International Conference on the European Energy Market (EEM14), Krakow, 1-5,(2014).
  • [9] The European Union Agency for the Cooperation of Energy Regulators. 2013. Capacity Remuneration Mechanisms and The Internal Market for Electricity, ACER. Accessed April 6, 2021. https://www.acer.europa.eu/Official_documents/Acts_of_the_Agency/Publication/CRMs%20and%20the%20IEM%20Report%20130730.pdf
  • [10] Bublitz, A., Keles, D., Zimmermann, F., Fraunholz, C. and Fichtner, W.,A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms. Energy Economics, 80:1059-1078, (2019).
  • [11] Elektrik Piyasası Kapasite Mekanizması Yönetmeliği, EPDK. Accessed April 6, 2021. https://www.epdk.gov.tr/Detay/DownloadDocument?id=u1bGTx1nWG4
  • [12] TEİAŞ Website, Accessed April 6, 2021. www.teias.gov.tr
  • [13] European Commission, Commission decision (EU) 2017/503 of 8 November 2016 on state aid scheme SA.39621 2015/C (ex 2015/NN). Off. J. Eur. Union L83:116–156. Accessed May 10, 2021. http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32017D0503&from=EN
  • [14] Perico, G., Checchi, C. and Canazza, V., The Italian Capacity Market: An Attractive Design for Market Players, 15th International Conference on the European Energy Market (EEM),(2018).
  • [15] Mastropietro, P., Fontini, F., Rodilla, P. and Batlle, C., The Italian capacity remuneration mechanism: Critical review and open questions. Energy Policy, 123:659-669,(2018).
  • [16] Bushnell, J., Flagg, M. and Mansur, E,Capacity Markets at a Crossroads. Haas Institute. Accessed June 15, 2021. https://hepg.hks.harvard.edu/files/hepg/files/wp278updated.pdf
  • [17] Jenkin, T., Beiter, P. and Margolis, R.,Capacity Payments in Restructured Markets under Low and High Penetration Levels of Renewable Energy., NREL,Accessed May 10, 2021. https://www.nrel.gov/docs/fy16osti/65491.pdf
  • [18] Bowring, J.,Capacity Markets in PJM. Economics of Energy & Environmental Policy, 2(2),(2013).
  • [19] PJM Manual 18: PJM Capacity Market Revision: 46. PJM. Accessed May 10, 2021. https://www.pjm.com/-/media/documents/manuals/archive/m18/m18v46-capacity-market-11-19-2020.ashx
  • [20] CIGRE,Capacity mechanisms: needs, solutions and state of affairs, CIGRE, Working Group C5.17. Accessed May 10, 2021. https://e-cigre.org/publication/647-capacity-mechanisms-needs-solutions-and-state-of-affairs
  • [21] Projected Costs of Generating Electricity: 2020 edition, International Energy Agency,Accessed May 10, 2021. https://www.oecd-nea.org/jcms/pl_51110/projected-costs-of-generating-electricity-2020-edition
  • [22] TEİAŞ 10 Yıllık Talep Tahminleri Raporu 2021-2030, TEİAŞ, Accessed May 10, 2021. https://www.teias.gov.tr/tr-TR/ilgili-raporlar
  • [23] Halton, J., A Retrospective and Prospective Survey of the Monte Carlo Method. SIAM Review, 12(1):1-63, (1970).
  • [24] Ripley, B. D., Stochastic simulation. New York: Wiley, (1987).
  • [25] Kroese, D.P., Brereton, T., Taimre, T. and Botev, Z.I., Why the Monte Carlo method is so important today. WIREs Comput Stat, 6:386-392,(2014).
  • [26] Timilsina, G. R., Demystifying the Costs of Electricity Generation Technologies. Policy Research Working Paper Series 9303, The World Bank. Accessed June 15, 2021. https://openknowledge.worldbank.org/handle/10986/34018
  • [27] The European Union Agency for the Cooperation of Energy Regulators.,ACER Decision on the Methodology for calculating the value of lost load, the cost of new entry, and the reliability standard-Annex I: Methodology for calculating the value of lost load, the cost of new entry and the reliability standard, ACER. Accessed May 10, 2021.https://www.acer.europa.eu/Official_documents/Acts_of_the_Agency/Individual%20decisions%20Annexes/ACER%20Decision%20No%2023-2020_Annexes/ACER%20Decision%2023-2020%20on%20VOLL%20CONE%20RS%20-%20Annex%20I.pdf
  • [28] İletim Tarifeleri, EPDK, Accessed May 10, 2021. https://www.epdk.gov.tr/Detay/Icerik/3-1520/teias
  • [29] Şubat 2021 Doğalgaz Toptan Satış Tarifesi, BOTAŞ, Accessed June 15, 2021. https://www.botas.gov.tr/uploads/dosyaYoneticisi/877090-ubat_2021_tarifesi_30012021.pdf
There are 29 citations in total.

Details

Primary Language English
Subjects Engineering
Journal Section Research Article
Authors

Mehmet Ali Kölmek 0000-0001-6650-9035

Tayfun Menlik 0000-0003-0970-6600

Publication Date December 1, 2023
Submission Date May 10, 2022
Published in Issue Year 2023 Volume: 26 Issue: 4

Cite

APA Kölmek, M. A., & Menlik, T. (2023). A Market Based Electricity Capacity Mechanism Model for Turkey. Politeknik Dergisi, 26(4), 1375-1392. https://doi.org/10.2339/politeknik.1115044
AMA Kölmek MA, Menlik T. A Market Based Electricity Capacity Mechanism Model for Turkey. Politeknik Dergisi. December 2023;26(4):1375-1392. doi:10.2339/politeknik.1115044
Chicago Kölmek, Mehmet Ali, and Tayfun Menlik. “A Market Based Electricity Capacity Mechanism Model for Turkey”. Politeknik Dergisi 26, no. 4 (December 2023): 1375-92. https://doi.org/10.2339/politeknik.1115044.
EndNote Kölmek MA, Menlik T (December 1, 2023) A Market Based Electricity Capacity Mechanism Model for Turkey. Politeknik Dergisi 26 4 1375–1392.
IEEE M. A. Kölmek and T. Menlik, “A Market Based Electricity Capacity Mechanism Model for Turkey”, Politeknik Dergisi, vol. 26, no. 4, pp. 1375–1392, 2023, doi: 10.2339/politeknik.1115044.
ISNAD Kölmek, Mehmet Ali - Menlik, Tayfun. “A Market Based Electricity Capacity Mechanism Model for Turkey”. Politeknik Dergisi 26/4 (December 2023), 1375-1392. https://doi.org/10.2339/politeknik.1115044.
JAMA Kölmek MA, Menlik T. A Market Based Electricity Capacity Mechanism Model for Turkey. Politeknik Dergisi. 2023;26:1375–1392.
MLA Kölmek, Mehmet Ali and Tayfun Menlik. “A Market Based Electricity Capacity Mechanism Model for Turkey”. Politeknik Dergisi, vol. 26, no. 4, 2023, pp. 1375-92, doi:10.2339/politeknik.1115044.
Vancouver Kölmek MA, Menlik T. A Market Based Electricity Capacity Mechanism Model for Turkey. Politeknik Dergisi. 2023;26(4):1375-92.