Journal article
Impact of Inter- and Intra-Regional Coordination in Markets With a Large Renewable Component
Department of Electrical Engineering, Technical University of Denmark1
Center for Electric Power and Energy, Centers, Technical University of Denmark2
Energy Analytics and Markets, Center for Electric Power and Energy, Centers, Technical University of Denmark3
Department of Applied Mathematics and Computer Science, Technical University of Denmark4
Dynamical Systems, Department of Applied Mathematics and Computer Science, Technical University of Denmark5
CITIES - Centre for IT-Intelligent Energy Systems, Centers, Technical University of Denmark6
The establishment of the single European day-ahead market has accomplished a crucial step towards the spatial integration of the European power system. However, this new arrangement does not consider any intra-regional coordination of day-ahead and balancing markets and thus may become counterproductive or inefficient under uncertain supply, e.g., from weather-driven renewable power generation.
In the absence of a specific target model for the common balancing market in Europe, we introduce a framework to compare different coordination schemes and market organizations. The proposed models are formulated as stochastic equilibrium problems and compared against an optimal market setup. The simulation results reveal significant efficiency loss in case of partial coordination and diversity of market structure among regional power systems.
| Language: | English |
|---|---|
| Publisher: | IEEE |
| Year: | 2016 |
| Pages: | 5061-5070 |
| ISSN: | 15580679 and 08858950 |
| Types: | Journal article |
| DOI: | 10.1109/TPWRS.2016.2530981 |
| ORCIDs: | Delikaraoglou, Stefanos and Pinson, Pierre |
Electricity markets Generalized Nash equilibrium (GNE) Market coupling SDG 7 - Affordable and Clean Energy Stochastic complementarity models TSO coordination
Capacity planning Couplings Electricity supply industry Europe European day-ahead market European power system Power systems Stochastic processes Wind power generation common balancing market efficiency loss electricity markets generalized Nash equilibrium (GNE) inter-regional coordination intra-regional coordination large-renewable component market organization market structure diversity optimal market setup partial coordination power markets regional power systems stochastic complementarity models stochastic equilibrium problem stochastic processes uncertain supply weather-driven renewable power generation
