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Previous studies that tested for integration of European electricity spot markets employed standard unit root tests. This study extends the existing literature about electricity market integration by adopting a fractional cointegration analysis and providing empirical evidence that the classical unit root test framework, which tests for common stationary trends, may be inadequate because of long range...
This paper presents a fundamental electricity market model capturing many essential features of investments in electricity markets ?? fuel price developments, investment and generation costs, demand and dynamic effects such as start-up costs and (pump) storage dispatch. The partial equilibrium model minimizes the total costs of the electricity system ensuring demand coverage. The model optimizes both...
The increasing share of electricity supply accounted for by sources of variable generation presents new challenges for system operators. Traditionally, generation investments were determined primarily based on the cost and availability of fuel [1] and the size of system demand. As variable generation (primarily from renewable sources) increases, flexible resources which can mitigate the effects of...
The Single Electricity Market (SEM) target model envisages zonal market price coupling across Europe by 2014 as well as harmonization of transmission tariffs of the coupled countries. To date the majority of EU countries have uniform transmission charges with the exceptions of a few countries, which have geographically varying tariffs. This paper presents a robust modeling methodology for evaluating...
This paper is concerned with zonal pricing as an approach to congestion management. The main contributions of the paper are summarized as follows. Algebraic characterization of optimal zonal prices is presented, where physical tie-line limits are explicitly accounted for without introducing conservatism. In a case of affine bids, it is shown that the optimal zonal price in a zone can be represented...
The International Energy Agency believes that energy efficiency is the most cost-effective way to meet the environmental challenges. ERSE, the Portuguese Energy Services Regulatory Authority, established in 2006 a competitive tender mechanism to promote efficiency in electricity consumption called PPEC. PPEC first edition (PPEC 2007) sponsored 26 measures, implemented during 2007, 2008 and 2009. The...
Investment volumes in renewable energies in Germany are far ahead of the necessary infrastructure to integrate them into both the electricity market and the grid. For storages and other technologies offering flexibilities the current regulatory framework and the market design in Germany remain a barrier for upcoming investments. In this paper regulatory barriers for an economically efficient energy...
In this paper, we focus on the inefficiencies of current real-time balancing of power systems and propose an alternative solution. Our approach is based on the introduction of double-sided markets for the provision of secondary control and a market-based provision of primary control. We propose ancillary service (AS) markets for the provision of operating reserves, such that in real-time an optimal...
Russian electric power industry has been moving towards deregulation of electricity generation and sale since 2003. Eight years of the Russian electric power industry restructuring and some years of electricity market functioning provide some statistical information. Price trends are among the most important to estimate what restructuring decisions are a success and what regulation needs further development.
This paper analyses the flexibility provision for future electricity systems by bulk energy storage technologies (EST) as well as transmission capacity expansion based on selected European case studies. For this, future potentials of bulk EST in different European countries were estimated and matched with the spatial dispersion of future wind-deployment on country-level to be able to estimate the...
This paper studies the impact of the energy upon electricity markets using Multidimensional Scaling (MDS). MDS is a computational and statistical technique that produces a spatial representation of similarity between objects through factors of relatedness. MDS represents in a low dimensional map data points whose similarities are defined in a higher dimensional space. Data from major energy and electricity...
As a common tendency, large-scale wind farms are increasingly connected to the transmission system of modern power grids. This introduces some new challenges to the connected power systems, and the transmission system operators (TSOs) have to put some new requirements as part of the grid codes on the integration of wind farms. One common requirement to wind farms is the function of system voltage...
A closer look at the new reliability challenges associated with meeting Europe's decarbonisation targets suggests that our collective thinking will need to evolve “beyond capacity markets” in order to address them. In particular, the power system will need resources capable of rapidly changing output or fexing demand frequently and continuously throughout the year around the energy availability from...
Power systems with a high share of wind and solar power require a complementing generation portfolio to balance intermittent supply. Pumped-storage plants can provide the required flexibility, whereas gas plants offer an alternative solution. This paper presents a peak-load-pricing model to describe the efficient pumped-storage capacity for high-renewable scenarios in Germany. Sensitivities are derived...
The offering strategies of Gencoes could change SCUC (Security Constraint Unit Commitment) convergence. As a result, the profit of generating plants will be adjusted. In this paper the minimum profit alteration with no changes in power production is named, as "discrete strategy". Different discrete strategies based on marginal cost is tested and compared with other strategies. Revenue is...
This paper examines what lessons can be learned from the rollout of smart meters in the Netherlands to improve the European smart meter standardization. This study is based on the case of the Dutch meter rollout which preparations started in 2005 but finally was delayed until 2011 by governmental concerns about privacy infringements. The focus of our study lies on how the public interests were represented...
Electricity transmission infrastructure has a fundamental role in the process of integrating national electricity markets in Europe to a single market. Transmission expansion takes place within institutional frameworks that sets the conditions for expansions. So far, most of the transmission business has been organised under the centralised and regulated transmission system operators (TSOs). This...
Demand response (DR) is the outreach of demand side management (DSM) in competitive electricity markets. With price signals and incentive mechanisms, DR is crucial to both power system reliability and market efficiency. Based on DR research and experiences around the world, comprehensive research on DR in electricity markets is conducted, including its definition, classification, implementation mechanisms,...
Assuring security of supply (resource adequacy) of a bulk power system is one of the main criteria of system planning. Traditionally, system planners study resource adequacy of the system using such probabilistic criteria as Loss of Load Hours (LOLH), and similar metrics which then lead to the determination of the planning reserve margin requirement. Installed capacity equal to that requirement assures...
Integration of distributed generation (DG) into distribution networks may affect many different factors, such as network reliability, voltage quality and network planning. Network regulation, therefore, is needed to provide the distribution system operators (DSOs) with fair business, meanwhile protecting the consumers and producers from any potential exploitation by the DSOs because of their monopoly...
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