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We investigate the impact that different technical and operational model representations for hydroelectric reservoir and pumped storage power plants have on the market dispatch and annual generation patterns in a techno-economic electricity sector model. The ‘detailed’ model explicitly accounts for individual plant and reservoir capacity limitations, hydraulic interconnections within cascaded systems,...
The paper looks upon a possible way of designing a continuous trade intraday market in Europe, in accordance with the Capacity Allocation and Congestion Management (CACM) Framework Guideline (FG). The sequential approach of a purely continuous trading is shown to limit optimal trading in the intraday market. Automatic Matching (AM) of trades is proposed to solve this problem and to allow pricing of...
With the growing environmental and energetic concern, the issue of adapting our energy systems is paramount. This paper deals with the issue of new optimal energy mixes in a high renewable energy share context, and capacity investment in such a framework. We use the “screening curve” method to determine competitors' investments and deduce the benefit of a conventional generator. This work is carried...
The aim of the article was to identify and analyze the most important, in opinion of the author, aspects of the impact of the EU ETS on power plants value. Literature was researched to identify factors determining the ability to shift costs of CO2. Theoretical and methodical considerations on the essence of so-called carbon risk and its impact on the cost of capital were carried out. Particularly...
Since January 1st, 2011 the electricity exchanges of Italy and Slovenia are working under a mechanism of market coupling for their respective day-ahead markets. Similar mechanisms are being implemented in many European countries to foster the integration of electricity markets that eventually will merge into one large European power market. This short paper is one of the first works in which, by analysing...
The European Union's Emissions Trading System (EU ETS) is the largest cap-and-trade program yet implemented which, in 2013, entered its ninth year of existence. During these eight years the EU ETS has seen a number of significant changes based on a succession of landmark legislative achievements. This paper provides a descriptive analysis of several aspects of the EU ETS from its inception through...
Combined Heat & Power (CHP) generation is the most efficient way of energy supply in urban area available today. It delivers significant benefits to its host facilities and urban distributed network (UDN) to which is connected. Economic viability of CHP generation for many sites requires integration with the UDN for backup and supplementary power needs and in some case the export of excess power...
A new concept for the clearing of the day-ahead market of a European Power Exchange is proposed in this paper, bypassing the problems caused by the indivisibility of complex orders present in the European markets. The presence of complex orders may lead to paradoxically accepted and/or paradoxically rejected orders, necessitating the use of iterative heuristic procedures and empirical simplifying...
A new network operation conditions creates new requirements for transmission planning which include electricity market figures and considerable integration of renewable generation. This paper focuses on transmission expansion planning techniques in a perfect competitive electricity market based on optimal power flows calculations with development planning and sustainability concept. For the proposed...
This paper analyzes the inequality of per capita GDP and of per capita CO2 emissions across countries in the European Union in the period from 1990 to 2020 by applying the Gini index. It examines the relationship between the per capita CO2 emissions and the per capita GDP. The future evolutions of these inequalities are projected under two scenarios. First, the Business-As-Usual projection of CO2...
With the advent of restructuring, generation companies have to plan the operation of their stations in order to maximize their profits. This is very relevant for companies having a large share of hydro stations, and even more if these stations have pumping capacity. This paper describes a model to plan the operation of a set of hydro stations eventually installed in cascade and admitting that some...
In the paper, Structural Vector Autoregressive models (SVAR) are used to identify fundamental and speculative shocks, in the UK electricity market. The structural shocks are identified via short run restrictions, which are imposed on the matrix of instantaneous effects. In the research, two main types of shocks are considered: fundamental shocks, which result from unexpected changes of demand, supply...
Demand response for residential consumers is making a slow progression, despite its benefits towards various market participants, and the challenges faced by distribution grids concerning the integration of distributed and renewable energy sources, and new demand side applications. While some obstacles are techno-economic in nature, there also exist barriers related to regulation. The objective of...
This paper presents a model for the optimal generation portfolio, specially designed to accommodate the characteristics of renewable generators and mitigate associated risks. The mathematical model is flexible enough to adjust to planner's desired goals — from economy to sustainability — and provide regulatory solutions to induce such adjustments. A realistic case study with the Brazilian system illustrates...
This paper focuses on the development of the ocean energy sector, identifying the necessary steps that are required in order to facilitate the development and deployment of ocean energy technologies towards the formation of a viable and successful industry. The paper presents recommendations, which represent a key opportunity to reinforce Europe's leadership in Research Development Innovation and...
This paper analyzes the impact of effective competition on the supply security problem in the German electricity market. Based on the energy-only resource adequacy mechanism utilized in ERCOT, effective competition is defined by two major elements. The first element is active demand-side participation in the market and the second one is defining optimal price cap in the market to achieve efficient...
The required amount of collateral (margin) for buyers and sellers of electricity in spot market depends on the committed risk management limits to fulfill necessary margining requirements. Different models are offered to calculate base collateral as a function of maximum net short position for a single delivery day, historical worst case difference between the index price and the market price, closing...
The paper presents fast method of unit commitment on balancing market, which also provides system security both in steady and all N-1 contingency states. Two types of generating units were modelled: thermal steam-turbine unit and pumped-storage unit. Unit parameters were specified accordingly to available data from Polish power plants and Transmission System operator (TSO). The day-ahead balancing...
We analyze optimal infrastructure investments for the integration of variable renewables in the German electricity system. Using a combined dispatch, transmission, and investment model, we compare four scenarios with different investment options, including gas-fired power plants, pumped hydro storage and transmission lines. In a reference scenario of the year 2024, geographically optimized investments...
For the coming years an increasing share of volatile feed-in from renewable energy sources in the electrical power system is expected. This feed-in will go along with rising uncertainties which have to be balanced in the generation system using flexibilities and balancing reserves. Thus, the efficient reserve coverage by power plants becomes more import and its provision is modeled within a unit commitment...
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