Renewable energy auctions

Abstract

[eng] The main objective of this study is to analyse and discuss renewable energy auctions, more specifically, the renewable energy auctions which took place in Spain in the years 2021 and 2022. In order to do so, first, renewable auctions are set in the framework of the alternative incentive systems for renewable generation, as auctions are not the only incentive system which has been used. These include feed-in tariffs, the rate of return regulation and green certificates. Following this, the case of renewable auctions in Spain will be studied, paying special attention to the auction design and market rules, and taking into account the changes made from past auction models to the newest auction design. The study will continue by incorporating the auction data from the four auctions taking place within the years 2021 and 2022. Finally, the methodology of the analysis will be explored and then these results will be thoroughly analysed and the main differences seen in the 2021 and 2022 renewable auctions in Spain will be explained, in particular, the increment in price bids and the reduction in the number of auction winners.