Development of clean and renewable energy is encouraged around the world to reduce greenhouse gas emission. With the implementation of support policies such as feedin tariff (FIT) and tradable green certificate (TGC), the mandatory quota of renewable energy must be fulfilled. This study examines how the two policies affect the oligopolistic electricity markets. Using the equilibrium theory of Cournot competition, equilibrium models for electricity market considering FIT and TGC policies are established respectively. The market regulator can regulate the price of subsidy or TGC using a bi-level optimization
model to maximize social welfare. Impacts of the two policies on the electricity markets are analyzed and compared in numerical simulation. Practically meaningful results are obtained.
ZHAO Chen, ZHANG Shao-hua
. Equilibrium Simulation of Electricity Markets under Different Renewable Energy Support Policies[J]. Journal of Shanghai University, 2014
, 20(4)
: 420
-428
.
DOI: 10.3969/j.issn.1007-2861.2014.02.003
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