Baltic Power Systems’ Integration into the EU Market Coupling under Different Desynchronization Schemes: A Comparative Market Analysis

Bompard, Ettore; Zalzar, Shaghayegh; Huang, Tao; Purviņš, Artūrs; Masera, Marcelo

doi:10.3390/en11081945

Cited by 13 publications

(4 citation statements)

References 15 publications

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“…Similarly to the other Baltic states, its shares of biofuels and waste has increased from 2% to 37%. Bompard et al [33] analyzed the Baltic power systems' synchronization with the EU energy market. The authors recognize that the current energy transmission system of the Baltic countries is integrated with the integrated/unified power system (IPS/UPS), which includes the Russian grid.…”

Section: Outlook Of Energy Manda In the Baltic Statesmentioning

confidence: 99%

Energy M&A Market in the Baltic States Analyzed through the Lens of Sustainable Development

Andriuškevičius

Štreimikienė

2022

Energies

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Mergers and acquisitions (M&A) may serve as a catalyst in energy transition by accelerating this trend and “greenwashing” the deals. M&A are often used by large energy companies as a tool to explore potential synergy benefits. Recently, M&A strategies in the energy industry have been pursued to transform traditional business models into more “sustainable” models. On the one hand, it may be observed that companies are taking a proactive rather than reactive approach towards environmental-, social-, and governance (ESG)-related M&A deals. On the other hand, sustainable M&A deals do not interest activist shareholders and regulatory authorities only anymore. Inclusion of a sustainability framework and managing ESG-related risks have become part of the overall strategy of most companies within the energy industry. This research addresses the problem of how energy M&A are contributing to sustainable development on the one hand and reflecting sustainable developments on the other hand. The current research focuses on the systematic literature on the M&A deals in the energy industry through the lens of sustainability by applying the SALSA methodology. Further, we applied a SWOT analysis of M&A in the energy industry from the perspective of sustainable development. Thomson Reuters DataStream 5.1 database was used for developing a case study. A sample of Lithuanian, Latvian, and Estonian energy companies that were involved as acquirers or targets in the M&A events from 1995 to 2020 was developed. Establishing a methodological approach construed of SALSA, SWOT, and case study analyses allowed us to bridge a gap in the existing literature and provoke further discussion in regards to market developments through the lens of sustainable development. The research results showed that there are relatively few M&A of renewable companies as the M&A market is dominated by traditional energy companies within Baltic states. However, companies in the Baltic states are pursuing energy security, have set targets for emission reductions, renewables and energy efficiency, are supporting EU climate neutrality, and put great emphasis on climate change mitigation.

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Section: Outlook Of Energy Manda In the Baltic Statesmentioning

confidence: 99%

Energy M&A Market in the Baltic States Analyzed through the Lens of Sustainable Development

Andriuškevičius

Štreimikienė

2022

Energies

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“…In these systems, congestion is managed through additional mechanisms aimed at resolving technical requirements. The main assumption in single-price models is that they do not internalize the effects of network congestion on generators' strategic behavior [38]. This behavior, but taken among countries, is precisely the objective of study when integrating each separate area into the complete system.…”

Section: System Descriptionmentioning

confidence: 99%

A New Model to Simulate Local Market Power in a Multi-Area Electricity Market: Application to the European Case

2019

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The work presented in this article proposes an original method that models the medium-term market equilibrium under imperfect competition circumstances in multi-area electricity systems. It provides a system analysis considering multiple market splitting possibilities, where local market power may appear according to the status of the interconnections. As a result of new policies and regulations, power systems are increasingly integrating the existing electricity markets in unified frameworks. The integration of electricity markets poses highly challenging tasks due to the uncertainty that comes from the agents’ strategic behaviors which depend on multiple factors, for instance, the state of the interconnections. When it comes to modeling these effects, the purpose is to identify each strategy by using conjectured-price responses that depend on the different states of the system. Consequently, the problem becomes highly combinatorial, which heightens its size as well as its complexity. Therefore, the purpose of this work’s methodology is the reduction of the possible network configurations so as to ensure a computational tractability in the problem. In order to validate this methodology, it has been put to the test in a realistic and full-scale two-year operation planning model of the European electricity market that consists of a group of nine countries.

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“…Over the last few years, power systems around the globe experienced deep changes in their operation, mainly induced by the widespread of Intermittent Renewable Energy Sources (IRES). At European level, this revolution is currently involving a necessary review of market and operational rules, in the direction of a stronger integration among the European countries [1][2][3][4]. This integration is in progress and based on the measures reported in the new European guidelines and network codes, which deal with multiple issues, from market design to operational security [5].…”

Section: Introductionmentioning

confidence: 99%

Replacement Reserve for the Italian Power System and Electricity Market

et al. 2020

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Over the last years, power systems around the globe experienced deep changes in their operation, mainly induced by the widespread of Intermittent Renewable Energy Sources (IRES). These changes involved a review of market and operational rules, in the direction of a stronger integration. At European level, this integration is in progress, driven by the new European guidelines and network codes, which deal with multiple issues, from market design to operational security. In this framework, the project TERRE (Trans European Replacement Reserve Exchange) is aimed at the realization of a European central platform, called LIBRA, for the exchange of balancing resources and, in particular, for the activation of the procured Replacement Reserve (RR) resources. The Italian Transmission System Operator (TSO), TERNA, is a participant of the project and it is testing new methodologies for the sizing of RR and its required activation throughout the TERRE process. The aim of the new methodologies is to find areas of potential improvement in the sizing of RR requirements and activation, which open up the possibility for a reduction of the procurement cost, without endangering the security of the power system. This paper describes a new RR sizing methodology, proposed by TERNA, which is based on a persistence method, showing its results on real data and highlighting key advantages and potential limitations of this approach. In order to overcome these limitations, a literature review on alternative approaches has been carried out, identifying nowcasting techniques as a relevant alternative for the very short term forecast horizon. These one could be further investigated and tested in the future, using the proposed persistence method as a benchmark.

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Baltic Power Systems’ Integration into the EU Market Coupling under Different Desynchronization Schemes: A Comparative Market Analysis

Cited by 13 publications

References 15 publications

Energy M&A Market in the Baltic States Analyzed through the Lens of Sustainable Development

Energy M&A Market in the Baltic States Analyzed through the Lens of Sustainable Development

A New Model to Simulate Local Market Power in a Multi-Area Electricity Market: Application to the European Case

Replacement Reserve for the Italian Power System and Electricity Market

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