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...

Effect of market design on strategic bidding behavior: Model-based analysis of European electricity balancing markets

Market-based procurement of balancing services in Europe is prone to strategic bidding due to the relatively small market size and a limited number of providers. In the European Union, balancing markets are undergoing substantial regulatory changes driven the efforts to harmonize the market design and better align it with the goals of the...