The increase of renewables in power sector, together with the increase of their electricity share in final energy consumption, is changing our perception about energy security with diverse and contradictory statements. The Portuguese security of electricity supply is analyzed in this study by comparing selected indicators for 2. years before and after the high increase of onshore wind since 2005. Our goal is to find how the security of electricity supply was impacted by the penetration of renewables, taking a supply chain approach. Our analysis highlights that the penetration of renewables has decreased the energy dependence of the power sector by more than 20% between 2004 and 2011, while risks related to the concentration of natural gas suppliers and to the still-high share of fossil fuels suffering from price volatility are discussed. We observed a significant improvement in power interconnections with Spain, as well as an increase of the de-rated generation capacity margin, allowing proper management of renewable power intermittency if necessary, thereby improving power security. Although the share of intermittent renewables almost quadrupled in total installed capacity between those years, the indicators reveal an improvement in the quality of transport and distribution when delivering electricity to end-users. Although electricity prices increased, mainly due to taxes, the lack of energy efficiency is an aspect deserving improvement to alleviate the pressure on electricity security, mainly at high peak demands.

CGE (computable general equilibrium) and bottom-up models each have unique strengths and weakness in evaluating energy and climate policies. This paper describes the development of an integrated technological, economic modeling platform (HYBTEP), built through the soft-link between the bottom-up TIMES (The Integrated MARKAL-EFOM system) and the CGE GEM-E3 models. HYBTEP combines cost minimizing energy technology choices with macroeconomic responses, which is essential for energy-climate policy assessment. HYBTEP advances on other hybrid tools by assuming 'full-form' models, integrating detailed and extensive technology data with disaggregated economic structure, and 'full-link', i.e., covering all economic sectors. Using Portugal as a case study, we examine three scenarios: (i) the current energy-climate policy, (ii) a CO2 tax, and (iii) renewable energy subsidy, with the objective of assessing the advantages of HYBTEP vis-à-vis bottom-up approach. Results show that the economic framework in HYBTEP partially offsets the increase or decrease in energy costs from the policy scenarios, while TIMES is very sensitive to energy services-price elasticities, setting a wide range of results. HYBTEP allows the computation of the economic impacts of policies in a technological detailed environment. The hybrid platform increases transparency of policy analysis by making explicit the mechanisms through which energy demand evolves, resulting in high confidence for decision-making. © 2014 Elsevier Ltd.

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