IEEE PES ESPAÑA | | An assessment of the Iberian Exception to control electricity prices
Virtual: https://events.vtools.ieee.org/m/418724IEEE PES ESPAÑA | | THE ENERGY TRANSITION | Towards a DECARBONIZED ENERGY | An assessment of the Iberian Exception to control electricity prices Estimados Miembros del Capítulo IEEE PES ESPAÑA y de la comunidad de sistemas eléctricos de potencia, Dear IEEE PES Spain Members and Colleagues from power and energy community, Continuing with the series on the topic LA TRANSICIÓN ENERGETICA | Hacia una ECONOMIA DESCARBONIZADA THE ENERGY TRANSITION | Towards a DECARBONIZED ECONOMY The energy transition towards a decarbonized economy will present a relevant challenge and a crucial transformation faced by our Society; Decelerating climate change effects is becoming a moral commitment. As a society, we are part of the decarbonized energy process that goes through the electrification of the economy and it is supported by renewables within a sustainable energy model. This means a change of paradigm which heads towards an immediate exciting future full of challenges at all levels associated with flexibility in its widest conception. It is assumed that a change of paradigm, that requires changing the focus from active based asset management towards the digitalization that ensures resiliency and security for the future electric systems. In this context, we need to contribute and stimulate the exchange of ideas from different perspectives and experiences, creating a framework of reflection through these series of webinars. The expected benefit and impact is the identification of opportunities within the complexity associated with the change of paradigm. In this Tomás Gómez and Pedro Linares (Universidad Pontificia Comillas) will share with us their assessment of the Iberian Exception to control electricity prices. Title: An assessment of the Iberian Exception to control electricity prices Content: The Iberian Exception, the mechanism designed by the Spanish and Portuguese governments to address high electricity prices resulting from the gas price crisis in 2021 and 2022, has been met with controversy, both regarding its real impact on electricity prices and also its unintended consequences, such as increased (and subsidized) exports to France. In this paper we review the evidence on these impacts from different studies, concluding that the mechanism may have produced, depending on the assumptions, some reductions in electricity prices for Iberian consumers or none at all, but always at the expense of subsidies to French consumers and also increased rents for gas combined cycles, higher gas consumption, and larger CO2 emissions. Alternative mechanisms, such as a temporary single-buyer scheme, might have produced similar benefits without the downsides of the Exception. Speakers: Tomás Gómez and Pedro Linareas (Universidad Pontificia Comillas) Date: May 16, 2024 Time: 18:00 - 20:00 (CET) Language: Spanish Participation in these is open to everyone, including both PES Members and non-Members. However, REGISTRATION is necessary in order to receive the access link and URL to WebEx. The Connection link to this will be sent to the registrants by e-mail on the event day at 11:30 (CET). The Registration closes at 11:30 (CET) on May 16, 2024. The direct access to the REGISTRATION is at https://events.vtools.ieee.org/event/register/418724 For further information: : https://events.vtools.ieee.org/m/418724 The IEEE PES ESPAÑA System issues participation certificates in these to the attendees under request. The necessary condition for the System to issue the certificate is that the attendee must participate with at least one voice question during the question time. Looking forward to seeing you. Kind regards, Lukas Sigrist (http://enotice.ieee.org/link.cfm?r=2t13DaV1ZQMWdxFUYxE9AA~~&pe=2r6s6cq1ZHJVREEnjcPg615Ax6pY5bB2EtOtT4-0u2m72qPy0vZwRE9mo5IxUHTUd3basEhCJ_h0e96RcJiJxA~~&t=dWSU4qsc8D7Oq-bfMacKwQ~~), Treasurer E-mail: (mailto:xmlopez@uvigo.es) (http://enotice.ieee.org/link.cfm?r=2t13DaV1ZQMWdxFUYxE9AA~~&pe=witkeIz8LkoUZhulkk1sx9E_1rKgceS0PT-I3sEMmkolP5KhdQvJt1UgDYhS1dKffWoWT6ki6UJ7wxyrpcMoGA~~&t=dWSU4qsc8D7Oq-bfMacKwQ~~) (http://enotice.ieee.org/link.cfm?r=2t13DaV1ZQMWdxFUYxE9AA~~&pe=6KDWid33EaTBI-e5_Rs9WqK142A_ryE8sq-2yQP_PxO6C0QjIOxeNlOScNiFfqtUlnufeNysO01BgoUQ8lmAKA~~&t=dWSU4qsc8D7Oq-bfMacKwQ~~) Speaker(s): Tomás Gómez, Pedro Linares Virtual: https://events.vtools.ieee.org/m/418724