Presenting in the session entitled “The Energy Crisis and the New Electricity Market” EXIST CEO Ahmet Türkoğlu, started his words by giving some examples about crises.

“Due to the heatwave and rapid economic recovery, we saw unexpected demand increase all over the World. And also over usage of the stored gas, price hike in the Asian LNG, low renewable and drought are the other reasons of energy crises.” Türkoğlu said.

Türkoğlu also said that we encounter crises everywhere. And than Türkoğlu made explanations through examples of history of electricity market design and liberalization prosess. Türkoğlu also gave some statistic about coal spark and electricity and gas day ahead prices.

Türkoğlu illustratiated of the current electricity wholesale pricing method and possible alternative with the examples. Türkoğlu “ When we talking about climate change we firstly have to change our understanding of installed capacity. And also we have to test our system capabilities of Heat & Cold Waves. And rapid increases in the peak load and better optimization needs are important for us”

“When we talk about energy network and conversion we think about suppliers, storage and end-use. Wholesale markets have important in a high renewable system. For example decarbonisation targets will require high shares of renewable energy. Renewable and low-carbon gases at large scale will require an evolution of the current market design. RES projects with high up-front capital costs but very low marginal running costs and also subsidy schemes are widely used and distort the markets.” Türkoğlu said.

Türkoğlu stated that market operator have some responsibilities in this Era and trasparency, reliable, liquidity, equality, development, cooperation and simplicity are important for EXIST. Türkoğlu finally gave information about the activities of EXIST and the newly opened markets.