Global power markets are in constant flux as the flood of renewable resources continues unabated across almost all geographies. In the U.S., the total power capacity of renewables will double from 21% to 42% by 2050.
The continuing growth and highly variable nature of non-dispatchable solar and wind generation energy assets have forced the physical markets to adjust by increasing the tenor and granularity of their operations to address rapid increases or decreases in power capacity. As such, in physical power markets with high levels of renewables, sub-hourly (and in many cases five minutes) scheduling increments and thousands of location-specific prices, or locational marginal pricing (LMP) prices, are increasingly common, particularly in the U.S. and European market regions.
Learn more about what this means for energy traders in our latest whitepaper.
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