14th IEEE PowerTech Conference - PowerTech 2021, Madrid (Spain) Online. 27 June - 02 July 2021
Summary:
To collate best praxis and ideas on local electricity markets, this paper surveyed a number of pioneering initiatives in local market design and implementation. The survey focused on the definition of the market itself and the roles and responsibilities of actors within, the distribution of the value of local markets, as well as challenges and current barriers. The results indicate that the main value of a local market is related to the benefits for society as a whole and to a lesser extent individual actors. The main benefits are expected to derive from deferred network investments and reduced network costs. Moreover, local markets are expected to allow for higher shares of clean energy integration and generate positive environmental impacts. Nonetheless, a number of regulatory, economic, stakeholder-related, and other barriers risk obstructing the operation of local markets in the short term and inhibit their adoption in the long run.
Keywords: flexibility, local markets, market design, societal value.
DOI: 
https://doi.org/10.1109/PowerTech46648.2021.9495089
Published in 2021 IEEE Madrid PowerTech, pp: 1-6, ISBN: 978-1-6654-1173-8
Publication date: 2021-06-27.
Citation:
M. Valarezo, J.P. Chaves, J. Rossi, E. Hillberg, M. Baron, Survey results on local markets to enable societal value, 14th IEEE PowerTech Conference - PowerTech 2021, Madrid (Spain) Online. 27 June - 02 July 2021. In: 2021 IEEE Madrid PowerTech: Conference proceedings, ISBN: 978-1-6654-1173-8
