A number of results have been achieved within the different project areas:
Auction-theoretical analysis: An evaluation framework for analysing RES auctions has been established. All relevant design elements for RES auctions are described. A comprehensive evaluation of suitable auction types and pricing rules, including relevant auction experiences from other industries was conducted. The risk of winner’s curse was analysed both theoretically and experimentally. Four policy memos were prepared on secondary objectives in auctions, pre-qualifications and penalties, award types and auction outcomes, and competition in auctions. A social welfare analysis comparing auction schemes with other policies showed that immature technologies with high uncertainty about technology cost may be better supported using non-competitive measures until they reach a certain maturity stage.
Empirical analysis: AURES has analysed and evaluated auctions schemes in 12 European countries and 8 other countries. A synthesis report identified best practices and lessons learned from existing auction schemes around the world.
Model-based analysis: A cash-flow model and a game theoretic model have been developed to simulate cost-based (non-strategic) bid prices as well as strategic behavioural incentives under different auction designs. The game theoretic model was integrated into a whole energy system modell, Green-X, which quantifies policy cost for the required RES uptake in the European 2030 target horizon.
Policy support: AURES has cooperated with policymakers in Germany, Denmark, Austria and the UK providing inputs to auction design considerations, supporting impact assessments and giving expert consultations on specific topics. AURES was in contact with policymakers and stakeholders from several countries in the EU and abroad. We have also been invited to pan-European coordination activities, such as CA-RES (EU Concerted Action) and facilitated Member State discussions. The project has also organised workshops, meetings and personal contacts with policy officers from DG Energy and DG Competition and provided recommendations regarding auction design policies in the new Renewable Energy Directive and State Aid Guidelines. The AURES Auction Designer is an online policy tool with an interactive user interface developed for policymakers and industry stakeholders, presenting users with auction design packages depending on their specific market situation and policy objectives.
Knowledge sharing and capacity building: 40 interviews have been undertaken with policymakers, industry representatives and research institutions about specific auction implementations and their relevant experiences. We have established the AURES AUCTION ACADEMY, a series of eight webinars that inform policy makers and the industry about best practices in RES auction design. We have organised 14 physical workshops and 12 webinars and a final conference in Brussels. The project consortium was invited to speak at 60 conferences and workshops. 19 newsletter has been sent to 263 subscribers. We were also active on social media, such as Twitter. The AURES website is a rich source of information about what are RES auctions, what elements need to be considered, what are suitable auction designs, and what are the experiences with auctions around the world. 60 reports are published on the website along with news articles, blog entries, and of course our auction tools.
The knowledge base established during the project is being used extensively by policymakers and industry stakeholders and has allegedly become the go-to source for information about RES auctions.
