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The electricity balancing market: Exploring the design challenge

Journal Article (2016)
Authors

R.A.C. van der Veen (TU Delft - Energy and Industry)

R.A. Hakvoort (TU Delft - Energy and Industry)

Research Group
Energy and Industry
Copyright
© 2016 R.A.C. van der Veen, R.A. Hakvoort
To reference this document use:
https://doi.org/10.1016/j.jup.2016.10.008
More Info
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Publication Year
2016
Language
English
Copyright
© 2016 R.A.C. van der Veen, R.A. Hakvoort
Related content
Research Group
Energy and Industry
DOI:
https://doi.org/10.1016/j.jup.2016.10.008
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Abstract

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 European balancing markets. We outline the full extent of the design challenge through a discussion of trade-offs among performance criteria, uncertain effects of design variables, and the many inter-linkages between the balancing market and the electricity market at large. Policy makers can address the balancing market design challenge by adopting a structured approach in which design variables, performance criteria, market conditions, system developments, and resultant market incentives are explicitly considered.