Markets for Low-Carbon Power
Jacob Mays (Cornell CEE)
In this talk, I will introduce three major challenges for mathematical modeling as wholesale electricity markets transition to carbon-free resources. The first challenge is formation of spot prices that adequately convey the reliability and flexibility needs of the system. The second centers on volatility, risk management, and supporting efficient long-run investment decisions. The third concerns coordination of decentralized investment in generation resources with centralized planning of transmission networks.