Energy markets are facing three challenges: 1) Internationalisation with more cross-border trade, especially of electricity, 2) Integration of large amounts of variable, only partly predictable renewable energy with low marginal costs and 3) Investors are confronted with higher risk and uncertainty, partly as a consequence of market liberalisation and partly because of the two above mentioned issues. Moreover, the Danish Government has a long-term target of abandoning the use of fossil fuels. Altogether, these issues point to a future energy system that will be significantly different from the present. This project focuses on methods and models related to electricity demand and supply. However, as electricity is part of the total energy system, models, methods and analyses need to integrate other parts of the energy system. Further, analyses include incentives and policy related issues based on economic theory. Finally, overall energy systems and markets are analysed using scenario-analyses.
|Effective start/end date||01/01/2011 → 31/12/2014|