Electricity Markets and Power Supply Resilience: an Incisive Review

This paper focuses on the advances in the resilience of electricity systems and energy markets. The objective is to identify how the progress on system resilience may influence market rules while uncovering the gaps in the literature. This review distills three findings. First, significant advances have been achieved both in the design and configuration of power systems for resilience. Second, topological and architectural advances appear isolated from market operations. Third, there is room to integrate self-healing resilience into power systems and bridge the bifurcation between increasing network resilience and having the market adequately value resilience. Evidently, the incidences of disruptions to electricity networks are on the rise, making a change from having a merely reliable electricity network to one that is resilient and adaptive a necessity. This review showcases the qualitative value inherent in processes to enhance adaptive resilience while promoting the requisite signals for power market integration.