David Newbery
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View article: Estimating the Target-Consistent Carbon Price for Electricity
Estimating the Target-Consistent Carbon Price for Electricity Open
The target-consistent price of carbon for an electricity sector decarbonizing through massive variable renewable electricity (VRE) depends sensitively on the VRE penetration level, as the marginal curtailment of VRE rises rapidly beyond a …
View article: Non-firm vs priority access: On the long run average and marginal costs of renewables in Australia
Non-firm vs priority access: On the long run average and marginal costs of renewables in Australia Open
In Australia, the National Electricity Market (NEM) has experienced a rapid expansion of Variable Renewable Electricity (VRE) projects, not without obstacles. Entry frictions such as movements in Marginal Loss Factors and/or network conges…
View article: Marginal vs average curtailment of renewables and access conditions in Renewable Energy Zones
Marginal vs average curtailment of renewables and access conditions in Renewable Energy Zones Open
Most countries have set challenging decarbonisation targets that will require high levels of Variable Renewable Electricity (VRE). The ratio of peak to average production is from 2-4 for wind and 4-11 for PV and so once market shares reach…
View article: Wind, water and wires: Evaluating joint wind and interconnector capacity expansions in hydro-rich regions
Wind, water and wires: Evaluating joint wind and interconnector capacity expansions in hydro-rich regions Open
Countries or regions with a high share of storage hydro and good renewables resources may be able to interconnect to less well-endowed neighbours. To maximise joint benefits, coordinating interconnector and renewables investment is desirab…
View article: A unit commitment and economic dispatch model of the GB electricity market – Formulation and application to hydro pumped storage
A unit commitment and economic dispatch model of the GB electricity market – Formulation and application to hydro pumped storage Open
We present a calibrated unit commitment dispatch model of the GB electricity market applied to an economic analysis of the four existing hydro pumped storage (PS) stations in GB. More variable renewable electricity (VRE) increases PS profi…
View article: Cambridge Zero Policy Forum Panel Study: Local Priorities for Investing in Sustainable and Resilient Infrastructure
Cambridge Zero Policy Forum Panel Study: Local Priorities for Investing in Sustainable and Resilient Infrastructure Open
Climate change is a global problem, but climate solutions primarily need to be deployed at a local level. Local stakeholders play a vital role in taking decisive action to meet national and international climate targets. Effective local, r…
View article: Efficient Renewable Electricity Support: Designing an Incentive-compatible Support Scheme
Efficient Renewable Electricity Support: Designing an Incentive-compatible Support Scheme Open
Most existing renewables support schemes distort location and dispatch decisions. Many impose unnecessary risk on developers, increasing support costs. Efficient policy sets the right carbon price, supports capacity not output, ensures eff…
View article: A Data-driven Fairness-based Time of Use Tariff Design
A Data-driven Fairness-based Time of Use Tariff Design Open
Time of use (TOU) tariffs aim to shape demand, by reducing peak demand and otherwise changing the load shape, which is of heightened relevance as energy supplies come under pressure and transition from fossil fuels to more volatile renewab…
View article: Strengths and weaknesses of the British market model
Strengths and weaknesses of the British market model Open
The state-owned CEGB was unbundled and privatised with a centrally dispatched pool and capacity payments in 1990, followed by massive gas entry under long-term contracts, undermined by retail competition from 1998. Although socially benefi…
View article: Designing an incentive-compatible efficient Renewable Electricity Support Scheme
Designing an incentive-compatible efficient Renewable Electricity Support Scheme Open
Most existing renewables support schemes distort location and dispatch decisions. Many impose unnecessary risk on developers, increasing support costs. Efficient policy sets the right carbon price, supports capacity not output, and ensures…
View article: Designing Efficient Renewable Electricity Support Schemes
Designing Efficient Renewable Electricity Support Schemes Open
Most existing renewables support schemes distort location and dispatch decisions. Many impose unnecessary risk on developers, increasing support costs. Efficient policy sets the right carbon price, supports capacity not output, ensures eff…
View article: The distortionary cost of marginal wind curtailment
The distortionary cost of marginal wind curtailment Open
At high levels of wind penetration the requirements of dispatchable reserves and inertia limit the volume of wind that can be accepted; the surplus is then curtailed. Marginal curtailment is 3-4+ times the average curtailment, but even in …
View article: Transport policy for a post-Covid UK
Transport policy for a post-Covid UK Open
Transport policy needs reform. Future Government investment and fiscal policy needs re-orienting to stimulate the economy after the Covid-19 lock-down. Prices used in project appraisal must include all external effects, committing to prope…
View article: Transport Policy for a Post-COVID UK
Transport Policy for a Post-COVID UK Open
Transport policy needs reform. Future Government investment and fiscal policy needs re-orienting to stimulate the economy after the Covid-19 lock-down. Prices used in project appraisal must include all external effects, committing to prope…
View article: Implications of the National Energy and Climate Plans for the Single Electricity Market of the island of Ireland
Implications of the National Energy and Climate Plans for the Single Electricity Market of the island of Ireland Open
Member States have published National Energy and Climate Plans with challenging variable renewable electricity (VRE) targets. As VRE has a high peak to average output, the Single Electricity Market of the island of Ireland (SEM), will need…
View article: The cost of CO2 abatement from Britain’s only PWR: Sizewell B
The cost of CO2 abatement from Britain’s only PWR: Sizewell B Open
This paper calculates the cost per tonne of CO2 abated by Sizewell B (SZB, the nuclear power station commissioned in 1995). Other zero-carbon renewables received contractual support. A long-term Contract-for-Difference (CfD) is modelled wi…
View article: The Cost of Trade Distortion: Britain’s Carbon Price Support and Cross-border Electricity Trade
The Cost of Trade Distortion: Britain’s Carbon Price Support and Cross-border Electricity Trade Open
This paper replaces CWPE1951.An additional carbon tax in one market can distort electricity trade with external markets. We show how to estimate the deadweight cost of the distortion and possible external global benefits from reduced emiss…
View article: Measuring inefficiency in international electricity trading
Measuring inefficiency in international electricity trading Open
Interconnectors reduce the cost of electricity supply if they are operated efficiently. We show that established metrics used to monitor electricity trading inefficiency become increasingly inaccurate in several trading conditions. We devi…
View article: The impact of a carbon tax on the CO2 emissions reduction of wind
The impact of a carbon tax on the CO2 emissions reduction of wind Open
Energy policy aims to reduce emissions at least long-run cost while ensuring reliability. Its effecacy depends on the cost of emissions reduced. Britain introduced an additional carbon tax (the Carbon Price Support, CPS) for fuels used to …