| The overall goal of this project is to provide insights to market design changes that will smoothen the transition to a decarbonized power system. To obtain these insights, this project will analyze the market design initiatives in the U.S. and Norway. Since hydropower is a likely to be a strong driver of price formation in zero marginal cost systems, the team will focus on areas with high penetrations of hydropower and renewables to identify best practices to that will guide future collaborations. The final deliverable will be a whitepaper on the efficacy of different market design measures in future decarbonized systems. This work will be pursued under the framework of DOE’s memorandum of understanding with Norway’s Royal Ministry of Petroleum and Energy. |
