NEWS

ESI Roundtable at SIEW 2018

Photo courtesy of the Energy Market Authority

On 2nd November, the ESI organised a Think-Tank Roundtable at the Singapore International Energy Week (SIEW 2018) to address new challenges of the electricity market design for renewable energy integration. The speakers from Australian Energy Market Operator, Asian Development Bank, Bloomberg New Energy Finance, E.ON Energy Research Center at RWTH Aachen University, Electrify Asia and Positive Energy Ltd. shared their insights into the market mechanisms and the roles of market players to enhance power system flexibility.

Dr. Liu Yang, Senior Research Fellow at ESI, opened the roundtable and moderated the panel discussion. He pointed out that the greatest transformational potential for future technological change is its ability to blur the distinction between supply and demand, and enable interaction with customers to balance supply and demand in real time. The roundtable aims to contribute to this frontier topic.

Dr Jennifer Riesz, Principal of Australian Energy Market Operator, shared the experience of dealing the impact of distributed energy generation on the power system security, as half of electricity demand in Australia is currently met by rooftop solar PV panels.


Photo courtesy of the Energy Market Authority

Dr Dae Kyeong Kim, Senior Energy Specialist at the Asian Development Bank, focused on the demand response as a tool to unlock power system flexibility, and emphasized on different market designs to enable the demand side management. 

Mr. Nicolas Payen, CEO and Co-founder of Positive Energy, which provides a block chain-based asset financing, trading and management platform for renewable energy, showed how digitalising asset valuation and cash flow management for renewable energy technology would open out new business opportunities.


Photo courtesy of the Energy Market Authority

Mr. Itamar Orland, Head of Frontier Power Research in Bloomberg New Energy Finance, investigated key trends of markets and technologies for grid flexibility.  He highlighted that electricity price volatility increases with much wider spreads between prices and growing frequency of negative power prices. He mapped out answers from the perspective of three dimensions, including power quality and control, resource aggregation and automation, as well as market design and regulation. 

Mr. Zhiwei Cheng, Head of Product and Strategy in Electrify Asia, remarked that the current policy is to determine reserve responsibility for all grid-connected PV within Singapore, but the market would need to transit to capacity-based models when PV capacity exceeds contingency reserves.


Photo courtesy of the Energy Market Authority

Dr Aaron Praktiknjo, Assistant Professor from E.ON Energy Research Center at RWTH Aachen University, explained that with the share of renewable energy increasing by a factor of six in Germany, due to feed-in tariffs and financial incentives, energy prices were dipping significantly lower and were not providing sufficient investment signals in the energy market.  He said that support of renewables from demand side would strengthen the idea of a liberal market, and incentivize investments in innovative solutions to integrate renewables into the system.

(Posted on 05 November 2018)