Related papers: What may future electricity markets look like?
As consumer flexibility becomes expected, it is important that the market mechanisms which attain that flexibility are perceived as fair. We set out fairness issues in energy markets today, and propose a market design to address them.…
In order to deal with market power that sporadically results from contingencies (e.g., severe weather, plant outages) most electricity markets have institutions in charge of monitoring market performance and mitigating market power. The…
We propose a framework where generation and transmission capacities are planned concurrently in market environments with a focus on the prosumers. This paper is a continuation of Part I and presents numerical results from three archetypal…
This paper focuses on the operation of an electricity market that accounts for participants that bid at a sub-minute timescale. To that end, we model the market-clearing process as a dynamical system, called market dynamics, which is…
Renewable energy sources and further electrificationof energy consumption are key enablers for decreasing green-house gas emissions, but also introduce increased complexitywithin the electric power system. The increased availability…
The modeling of complex systems such as ecological or socio-economic systems can be very challenging. Although various modeling approaches exist, they are generally not compatible and mutually consistent, and empirical data often do not…
Electricity distribution companies deploy battery storage to defer grid upgrades by reducing peak demand. In deregulated jurisdictions, such storage often sits idle because regulatory constraints bar participation in electricity markets.…
Driven by growing concerns over air quality and energy security, electric vehicles (EVs) has experienced rapid development and are reshaping global transportation systems and lifestyle patterns. Compared to traditional gasoline-powered…
The liberalization of electricity markets and the development of renewable energy sources has led to new challenges for decision makers. These challenges are accompanied by an increasing uncertainty about future electricity price movements.…
Nothing has done more to empower the free market, enterprise, and meritocracy than the spread of electricity and power to everyone. The power system has been the precursor to the greatest period of innovation in our history and has meant…
The energy industry needs to shift to a new paradigm from its classical model of energy generation, distribution, and management. This shift is necessary to handle digitization, increased renewable energy generation, and to achieve goals of…
Renewable energy systems are an increasingly popular way to generate electricity around the world. As wind and solar technologies gradually begin to supplant the use of fossil fuels as preferred means of energy production, new challenges…
Short-term electricity markets are becoming more relevant due to less-predictable renewable energy sources, attracting considerable attention from the industry. The balancing market is the closest to real-time and the most volatile among…
A number of governments and organizations around the world agree that the first step to address national and international problems such as energy independence, global warming or emergency resilience, is the redesign of electricity…
We investigate group formations and strategic behaviors of renewable power producers in electricity markets. These producers currently bid into the day-ahead market in a conservative fashion because of the real-time risk associated with not…
With the sustained deployment of distributed generation capacities and the more proactive role of consumers, power systems and their operation are drifting away from a conventional top-down hierarchical structure. Electricity market…
The ATLAS model simulates the various stages of the electricity market chain in Europe, including the formulation of offers by different market actors, the coupling of European markets, strategic optimization of production portfolios and,…
The natural gas and electricity systems are now becoming more and more strongly coupled. While gas-fired units (GFUs) are replacing the retired coal plants, the power systems are also increasingly dependent on the flexibilities provided by…
Energy system models underpin decisions by energy system planners and operators. Energy system modelling faces a transformation: accounting for changing meteorological conditions imposed by climate change. To enable that transformation, a…
Electricity storage is crucial for a successful transition towards carbon-neutral energy production. Despite considerable research and a number of promising future alternatives such as hydrogen, battery storages currently remain the first…