Innovative Electricity Market Designs to Support a Transition to (Near) 100% Renewable Power System: First Results from H2020 TradeRES Project

Developing innovative electricity market designs to facilitate a sustainable transition to (near) 100% renewable power systems while meeting societal needs is a crucial and actual topic of research. This article presents preliminary key findings from the H2020 European project TradeRES, addressing this critical topic. The project uses agent...

Electricity Markets for Direct Current Distribution Systems

Direct current distribution systems (DCDS) are a promising alternative to alternating current (AC) systems because they remove AC--DC conversion between sources and loads that cause energy losses. Compared to AC systems, a DCDS has higher power capacity, energy efficiency and reliability, and no need for synchronisation---suitable where a large...

Balancing and redispatch: the next stepping stones in European electricity market integration: Improving the market design and the efficiency of the procurement of balancing and redispatch services

Balancing and redispatch are essential services for the security and stability of the electricity network. Balancing refers to continuously maintaining a balance between supply and demand through activating flexible resources. Redispatch refers to changing the dispatch of generators to remedy network congestion. The need for flexibility...

Electricity market design requirements for DC distribution systems

DC distribution systems (DCDS) connect local generators and loads directly. By avoiding unnecessary losses in AC-DC conversion, DCDS offers higher energy efficiency. Since different parties in a DCDS may have conflicting goals, matching between power supply and demand should be done with carefully designed allocation rules and monetary transfers...

The electricity balancing market: Exploring the design challenge

In the unbundled national electricity markets in Europe, the balancing market is the institutional arrangement that deals with the balancing of electricity demand and supply. This paper presents a framework for policy makers that identifies the relevant design variables and performance criteria that play a role in the design and analysis of...

The market (in-)stability reserve for EU carbon emission trading: Why it might fail and how to improve it

The EU parliament has accepted a proposal of the EU commission on the backloading of EU emission allowances (EUA), where the auctioning of EUAs is postponed to future time periods. The EU commission has also proposed a market stability reserve (MSR), which is a quantity-based stabilisation policy that is aimed at controlling the volume of EUAs...

System Dynamics Project: The case of Electricity in Shanghai

The increasing energy demand in China due to urbanization has made the study of different energy policies in big cities a crucial topic of discussion. This is a complex problem since the electricity market is a multi-actor system where various actors may have a great influence on the main issue we are focusing on. In order to reduce the energy...

Observing player behavior in an electricity market game

In this paper we investigate the cooperative behaviour in a serious game. We build on an existing energy market game and use repetitive questionnaires to understand player behaviour.

Analysis of the impact of imbalance settlement design on market behaviour in electricity balancing markets

The imbalance settlement design is the part of an electricity balancing market design that stimulates so-called Balance Responsible Parties (BRPs) to balance their electricity production and consumption portfolio and to stick to their energy schedules by penalizing any deviations from these schedules with an imbalance price. There are numerous...

Coupling Agent-Based Models of Natural Gas and Electricity Markets

In this paper two agent-based models of energy markets are considered: one modelling the market for natural gas and the other of the electricity market incorporating a CO2 market. Because the energy systems are highly interrelated it is interesting to study how they were conceptualised and to explore possibilities to connect the two models,...

A comparison of imbalance settlement designs and results of Germany and the Netherlands

Imbalance settlement is a vital part of the balancing market, i.e. the institutional arrangement that establishes market-based balance management in liberalized electricity markets. We investigate the impact of the imbalance settlement design on the behaviour of Balance Responsible Parties and thereby on balancing market performance by means of...

Power system operation with large-scale wind power in liberalised environments

Our society revolves around electricity. Most electricity is produced from fossil fuels, such as coal and natural gas. The disadvantages are that their supply is finite and unevenly distributed across the earth. Conventional power stations also emit greenhouse gases. Therefore, sustainable alternativees must be developed, such as wind power. The...