Market coupling simulator

IEEE Trans. Power Syst.

Bakirtzis

2014

The integration of the day-ahead electricity markets in Europe shall lead to one multi-area market that will substitute the local/national ones. In view of the "target model" that will be enforced in all European markets in conjunction with their forthcoming coupling/integration, a centralized market splitting algorithm is implemented in this paper, respecting the standard market regulatory framework of power exchanges (PXs) and power pools, including 1) block offers/bids, linked block offers/bids, flexible hourly offers/bids and convertible block offers in power exchanges and 2) unit technical/commitment constraints and system operating constraints in power pools. The problem is formulated as a mixed integer linear programming (MILP) model, which can be solved using commercial MILP solvers. The performance and computational requirements of an implementation in pan-European level is presented in the companion paper; the model is tested in terms of problem solvability to its limits, considering a day-ahead market clearing time threshold equal to one hour.Index Terms-Internal electricity market, market splitting, mixed integer linear programming, power exchange, power pool.

Section: ) Linked Block Offers/bids: the Clearing Of These Orders Ismentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

European Electricity Market Integration With Mixed Market Designs—Part I: Formulation

IEEE Trans. Power Syst.

Bakirtzis

2014

“…The importance of developing a common electricity market in Europe has been highlighted in the literature, and many researchers have studied market coupling solutions [4]- [12]. A common feature in the current literature is that all intra-zonal lines are considered not congested, since the area's internal grid is considered strong enough to cope with internal dispatch.…”

Section: Introductionmentioning

confidence: 99%

“…Reference [11] presents mainly the same model as in [9], with the difference that it does not employ an iterative process. Finally, in [12] a Market Coupling simulator is presented, which employs a single interconnection/PTDF-based model for handling congestion management between European markets. Table I tabulates the basic features of the above-mentioned literature.…”

Section: Introductionmentioning

confidence: 99%

European Market Integration With Mixed Network Representation Schemes

IEEE Trans. Power Syst.

Dourbois

et al. 2013

A centralized market-splitting algorithm is implemented in this paper in a Europe-wide level, comprising both power pools and Power Exchanges, with each local/national market respecting the standard constraints imposed by its own regulatory framework, including the full set of unit technical/commitment constraints and system operating constraints in power pools. In view of the forthcoming large-scale RES penetration, physical markets with unit-based offers (either pools or PXs) check the feasibility of the electricity market solution against their internal (intra-zonal) transmission network constraints, considering full network topology. This is accomplished through an iterative process, iterating between the overall optimization algorithm, and intra-zonal power flows of the countries/regions, which identify possible congestions and incorporate additional constraints in the central pan-European market-splitting problem. The iterative process terminates when all internal transmission constraints are satisfied. Locational marginal prices (LMPs) can be computed in the physical markets, whereas zonal/system marginal prices are computed in markets with portfolio-bidding schemes. The proposed algorithm is tested in terms of computational efficiency using the full UCTE network.Index Terms-Internal electricity market, market splitting, mixed integer linear programming, power exchange, power pool, power transfer distribution factors.

“…Many researchers have studied various market coupling solutions [13]- [21]. The common feature of all of the aforementioned cases is that the intra-zonal lines are considered to be uncongested, since the internal network is assumed to be "strong" enough to bear the attained power flows.…”

Section: Introductionmentioning

confidence: 99%

European electricity market integration under various network representations

2013 IREP Symposium Bulk Power System Dynamics and Control - IX Optimization, Security and Control of the Emerging Power Grid

Bakirtzis

2013

The integration of the European electricity market constitutes a critical and contemporary issue, expected to take place within year 2015. In view of the forthcoming RES penetration, physical markets with unit-based offers -either power pools or Power Exchanges (PXs)-check the feasibility of the electricity market solution against their intra-zonal transmission capacity constraints. An iterative process is examined, with two variations, differentiating only in the way that the internal network of each physical market is represented. In each iteration of the proposed algorithm, intra-zonal power flows are calculated, possible violations of internal transmission limits are identified and additional constraints are incorporated in the centralized market splitting problem, in order to avoid the overloading of internal transmission lines. The attained results are compared to those of a centralized market-splitting problem, considering the full European network configuration. The above methods are compared in terms of (a) solution efficiency, (b) correct pricing and (c) computational efficiency.