|By PR Newswire||
|January 13, 2014 10:11 AM EST||
- New Reference Case reports help guide clients' power investment decisions with detailed model and forecasts of electricity markets out to 25 years
LONDON, Jan. 13, 2014 /PRNewswire/ -- Ventyx, an ABB company, today announced availability of its European Power Reference Case, semiannually updated reports detailing Ventyx's integrated market-based fundamental model of the Northwest European energy industry. The reports help clients make informed, valuable investments in electricity markets by providing unbiased data and analysis, as well as forecasts of regional prices for power, natural gas, coal, emissions allowances and renewable energy certificates (RECs).
"The electricity markets of Northwest Europe - including Britain, France, Germany, Benelux, Austria, Switzerland and Italy - continue to undergo fundamental changes to their dynamics and structure, driven by the push to reduce CO2 emissions," said Ventyx GM Energy Portfolio Management Solutions Tom O'Meara. "Using its fundamental model of European markets, Ventyx helps clients face some of the fundamental issues that will impact the markets over the coming years, such as the potential sidelining of traditional energy markets, the introduction of the Electricity Target Model to deliver a single energy market and the opportunities around flexible generating capacity."
The Ventyx European Power Reference Case provides detailed projections related to these key issues, based on more than 15 years of power sector analysis, data and forecasting by the Ventyx European Advisor team. The reports provide a comprehensive, integrated analysis of the Northwest European electricity market using Ventyx's market-based, fundamental model of power, gas, coal and environmental markets and provide forecasts out to 25 years based on consistent economic assumptions.
The in-depth analysis reveals some of the paradigm shifts and major issues facing the future European power markets, including:
- Shrinking residual demand. Changes in plant fuel mix in some countries will cause residual demand (demand less "must run" nuclear and renewables) to shrink up to 60 percent in coming years.
- A new merit order. Transmission issues during peak demand have "trapped" renewable energy in regions, leading to significant curtailment, price collapses and volatile market prices.
- "Winners" and "losers." Increasingly scarce generation opportunities will foster competition among incumbent fossil generators as renewable (wind and solar) generation displaces conventional fossil plants. "Winners" and "losers" are emerging, with the "winners" having prioritized portfolio optimization.
- Market viability. The energy market could be sidelined by low prices in wholesale markets, just as the Electricity Target Model is introduced to deliver a single energy market for Europe.
More details on these and other findings are available in a complimentary webcast, which can be viewed by clicking here. Ventyx will also be hosting a one-day workshop in London on 13 January, 2014, to provide a deeper exploration of the inputs and results of the NW Europe Market Outlook. Click here for details and to register.
The Power Reference Case report is available immediately. For more information, contact your Ventyx sales representative or email [email protected].
Ventyx, an ABB company, is a world-leading supplier of Industrial Enterprise Software for essential industries such as energy, mining and public infrastructure. Ventyx solutions bridge the gap between information technologies (IT) and operational technologies (OT), enabling clients to make faster, better-informed decisions in both daily operations and long-term planning strategies. Some of the world's largest organizations rely on Ventyx solutions to minimize risk, enhance operational and financial performance and execute the right strategies for the future. For more details, see www.ventyx.com.