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SUMMARY:Energy system decarbonisation: informing reform of energy market a
 nd regulatory framework - Goran Strbac (Imperial College London\; Imperial
  College London\; Imperial College London)
DTSTART:20190322T100000Z
DTEND:20190322T104500Z
UID:TALK121462@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:There is a growing need and opportunity for new emerging techn
 ologies and systems to provide flexibility in supporting a cost-effective 
 transition to a lower carbon energy system. Key results of the comprehensi
 ve analysis carried out will be presented highlighting the benefits of eme
 rging technologies and system in providing grid support\, various balancin
 g services\, system security services and option value services to deal wi
 th uncertainty. This will underline the barriers related to the present ma
 rket and regulatory framework that may prevent the realization of the quan
 tified system value of flexibility and thus weaken the business case for i
 nvestment in corresponding technologies and systems. Developing fully cost
 -reflective markets and effective regulatory frameworks will therefore be 
 necessary to ensure that the commercial incentives for investing and opera
 ting flexible technologies are aligned with the societal benefits. The imp
 ortance of the whole-system approach to future market design\, strategic v
 ersus incremental investment\, consumer participation and decentralisation
  will be discussed and a roadmap for market evolution will be presented\, 
 highlighting the importance of aligning the market design with the decarbo
 nisation objectives.
LOCATION:Seminar Room 1\, Newton Institute
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