Impact of Inter- and Intra-Regional Coordination in Markets With a Large Renewable Component

Stefanos Delikaraoglou, Juan Miguel Morales González, Pierre Pinson

Research output: Contribution to journalJournal articleResearchpeer-review

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Abstract

The establishment of the single European day-ahead market has accomplished a crucial step towards the spatial integration of the European power system. However, this new arrangement does not consider any intra-regional coordination of day-ahead and balancing markets and thus may become counterproductive or inefficient under uncertain supply, e.g., from weather-driven renewable power generation. In the absence of a specific target model for the common balancing market in Europe, we introduce a framework to compare different coordination schemes and market organizations. The proposed models are formulated as stochastic equilibrium problems and compared against an optimal market setup. The simulation results reveal significant efficiency loss in case of partial coordination and diversity of market structure among regional power systems.
Original languageEnglish
JournalI E E E Transactions on Power Systems
Volume31
Issue number6
Pages (from-to)5061-5070
ISSN0885-8950
DOIs
Publication statusPublished - 2016

Bibliographical note

(c) 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other users, including reprinting/ republishing this material for advertising or promotional purposes, creating new collective works for resale or redistribution to servers or lists, or reuse of any copyrighted components of this work in other works.

Keywords

  • Market coupling
  • TSO coordination
  • Stochastic complementarity models
  • Generalized Nash equilibrium (GNE)
  • Electricity markets

Cite this

Delikaraoglou, Stefanos ; Morales González, Juan Miguel ; Pinson, Pierre. / Impact of Inter- and Intra-Regional Coordination in Markets With a Large Renewable Component. In: I E E E Transactions on Power Systems. 2016 ; Vol. 31, No. 6. pp. 5061-5070.
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Impact of Inter- and Intra-Regional Coordination in Markets With a Large Renewable Component. / Delikaraoglou, Stefanos; Morales González, Juan Miguel; Pinson, Pierre.

In: I E E E Transactions on Power Systems, Vol. 31, No. 6, 2016, p. 5061-5070.

Research output: Contribution to journalJournal articleResearchpeer-review

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N1 - (c) 2016 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other users, including reprinting/ republishing this material for advertising or promotional purposes, creating new collective works for resale or redistribution to servers or lists, or reuse of any copyrighted components of this work in other works.

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