Resource adequacy under institutional constraints and the low-carbon energy transition in China
Power Transformation Lab (mrdavidson AT ucsd.edu)
Resource adequacy of the power sector is coming under increasing stress globally due to rising electricity demand, extreme weather, and growth of variable renewable energy (VRE). Institutionally, many power sectors are transitioning from traditional central planning to some degree of market liberalization, with varied regulatory approaches to ensuring supply security. China’s distinct medium- and long-term (MLT) agreement mechanisms are physical and characterized by a high degree of state...