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Electricity Markets and Power Supply Resilience: an Incisive Review

  • Energy Market (R Sioshansi and A Mousavian, Section Editors)
  • Published:
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Abstract

Purpose of Review

This paper focuses on the advances in the resilience of electricity systems and energy markets. The objective is to identify how the progress on system resilience may influence market rules while uncovering the gaps in the literature.

Recent Findings

This review distills three findings. First, significant advances have been achieved both in the design and configuration of power systems for resilience. Second, topological and architectural advances appear isolated from market operations. Third, there is room to integrate self-healing resilience into power systems and bridge the bifurcation between increasing network resilience and having the market adequately value resilience.

Summary

Evidently, the incidences of disruptions to electricity networks are on the rise, making a change from having a merely reliable electricity network to one that is resilient and adaptive a necessity. This review showcases the qualitative value inherent in processes to enhance adaptive resilience while promoting the requisite signals for power market integration.

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Acknowledgements

The authors would like to thank the reviewers and the Energy Market Editors, Dr. R. Sioshansi and Dr. S. Mousavian, for their submission invitation and helpful suggestions to improve the article.

Funding

This work was supported by the National Science Foundation (NSF) under Grant 1847077. Any opinions, findings, and conclusions or recommendations expressed in this article are those of the authors and do not necessarily reflect the views of the NSF.

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    Ekundayo Shittu & Joost Reyes Santos

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Shittu, E., Santos, J.R. Electricity Markets and Power Supply Resilience: an Incisive Review. Curr Sustainable Renewable Energy Rep 8, 189–198 (2021). https://doi.org/10.1007/s40518-021-00194-4

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