Related papers: Impact of Market Reforms on Deterministic Frequenc…
Deterministic frequency deviations (DFDs) critically affect power grid frequency quality and power system stability. A better understanding of these events is urgently needed as frequency deviations have been growing in the European grid in…
To ensure reliable operation of power grids, their frequency shall stay within strict bounds. Multiple sources of disturbances cause fluctuations of the grid frequency, ranging from changing demand over volatile feed-in to energy trading.…
The European Power Exchange has introduced day-ahead auctions and continuous trading spot markets to facilitate the insertion of renewable electricity. These markets are designed to balance excess or lack of power in short time periods,…
Power grid frequency control is a demanding task requiring expensive idle power plants to adapt the supply to the fluctuating demand. An alternative approach is controlling the demand side in such a way that certain appliances modify their…
The energy transition introduces more volatile energy sources into the power grids. In this context, power transfer between different synchronous areas through High Voltage Direct Current (HVDC) links becomes increasingly important. Such…
This paper introduces a novel Bayesian reverse unrestricted mixed-frequency model applied to a panel of nine European electricity markets. Our model analyzes the impact of daily fossil fuel prices and hourly renewable energy generation on…
The increase of electric demand and the progressive integration of renewable sources threatens the stability of the power grid. To solve this issue, several methods have been proposed to control the demand side instead of increasing the…
In Europe, Germany is taking the lead in the switch from the conventional to renewable energy. This poses new challenges as wind and solar energy are fundamentally intermittent, weather-dependent and less predictable. It is therefore of…
Many recent works in control of electric power systems have investigated their synchronization through global performance metrics under external disturbances. The approach is motivated by fundamental changes in the operation of power grids,…
Power grids must modernize to meet climate goals while maintaining reliable and stable operating conditions. Yet progress is hindered by a limited understanding of the stochastic processes underlying grid frequency and phase-angle…
Recent research finds that forecasting electricity prices is very relevant. In many applications, it might be interesting to predict daily electricity prices by using their own lags or renewable energy sources. However, the recent turmoil…
Network constraints play a key role in the price finding mechanism for European Power Markets, but historical data is very sparse and usually insufficient for many quantitative applications. We reconstruct the constraints data, known as the…
Conventional generators in power grids are steadily substituted with new renewable sources of electric power. The latter are connected to the grid via inverters and as such have little, if any rotational inertia. The resulting reduction of…
The large variability of renewable power sources is a central challenge in the transition to a sustainable energy system. Electricity markets are central for the coordination of electric power generation. These markets rely evermore on…
The modern power grid has seen a rise in the integration of non-linear loads, presenting a significant concern for operators. These loads introduce unwanted harmonics, leading to potential issues such as overheating and improper functioning…
Considering that the existing setup of the European electricity markets promotes the spatial coordination of neighbouring power systems only on the day-ahead market stage, regional system operators have to rely mainly on their internal…
Frequency fluctuations in power grids, caused by unpredictable renewable energy sources, consumer behavior and trading, need to be balanced to ensure stable grid operation. Standard smart grid solutions to mitigate large frequency…
We argue that deterministic market clearing formulations introduce arbitrary distortions between day-ahead and expected real-time prices that bias economic incentives and block diversification. We extend and analyze the stochastic clearing…
The balancing market for power is designed to account for the difference between predicted supply/demand of electricity and the realised supply/demand. However, increased electrification of society changes the consumption patterns, and…
Accurate short-term electricity price forecasting is crucial for strategically scheduling demand and generation bids in day-ahead markets. While data-driven techniques have shown considerable prowess in achieving high forecast accuracy in…