Capacity Markets - Lessons Learned from the First Decade

By Kathleen L. Spees, Sam Newell, J. Pfeifenberger. 2013

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Merit-order effects of renewable energy and price divergence in California’s day-ahead and real-time electricity markets (2016, background): “deregulated markets of New York, PJM, and New England (Spees et al., 2013).”
A survey on electricity market design: Insights from theory and real-world implementations of capacity remuneration mechanisms (2019, background): “, the existing capacity mix and the demand characteristics (Batlle and Rodilla, 2010; Cepeda and Finon, 2011; Keppler, 2017; Spees et al., 2013).”
Business models for distributed energy resources: A review and empirical analysis (2017, background): “On the other hand, payments for firm capacity can be quite significant depending on desired reserve margins (for example, on the order of hundreds of dollars per megawatt-day and with a market size of tens of gigawatts in certain systems) [29,30].”