This research project was carried out over a period of 18 months to December 2012 for EPRI, the Electric Power Research Institute in California. The research team included faculty staff at London Business School. The aim was to assess how electricity markets will evolve as the generation portfolio shifts towards very low carbon forms of generation. In many cases, this means that there will be larger penetrations of renewables, with implications for electricity system design and regulation. New modelling techniques were developed, including imperfect competition, short-term pricing risk, long-run uncertainty, and implications for investment decisions.
Detailed publications will be released shortly. The executive summary of the final report is available here (pdf).