Braucht Deutschland einen Kapazitätsmarkt für eine sichere Stromversorgung?

Abstract

Abstract The current political debate on the Energiewende in Germany is no longer focused on economic and ecological aspects. Instead, concerns regarding security of supply become more and more relevant. Though current risks for security of supply are mainly driven by the situation in transmission systems, policy debate is driven by the economic situation of plant operators and the provision of generation adequacy. On this background, many stakeholders claim the introduction of capacity mechanisms. The article shows that such decision should not be made in a purely national context, but requires strong European coordination. There is no clear evidence that the current energy-only market design will not deliver adequate investments in generation. However, a sustainable equilibrium requires stable and predictable boundary conditions for energy markets and a general acceptance of price peaks. A strategic reserve is proposed as an easy-to-implement, short-term and reversible means to guarantee security of supply while wellfounded political decisions on future market design can be taken.