SiSTEM, A MODEL FOR THE SIMULATION OF SHORT-TERM ELECTRICITY MARKETS

08-11-2017 -  Sébastien MATHIEU, Marie PETITET, Marie PERROT, Damien ERNST and Yannick PHULPIN

Download the related pdf
Power grid Dispatching Network Hydro Plant


Key words: Electricity markets, balancing markets, simulation model, multi-level optimization, explicit o?ers building, steady-state constraints.


ABSTRACT
The aim of this document is to present SiSTEM, a multi-level simulation model of European short- term electricity markets, covering day-ahead and intraday exchanges to balancing activations in real-time, and imbalance se1lement. In this model, power companies interact by making o?ers, no- tifying their positions to the system operator and impacting the balance of the electric system. The system operator activates balancing energy to restore the balance of the system, using all balanc- ing activation o?ers, including from balancing reserves. Imbalance se1lement implies bidirectional transactions between the system operator and power companies depending on the direction of their imbalance. A simulation of the model is performed by sequentially considering each time step and simulating actors’ decisions.

The objective of this model is to understand the problems behind decisions of the actors within the short-term electrical system operation, to provide insights on how these problems can be solved through market design and to see how the decisions are linked together to shape a coherent system. This paper presents di?erent simulation cases of an illustrative system in order to portray main fea- tures of the model in a practical and e?ective manner. In particular, the results show the importance of considering steady-state constraints and notice delays of generation units when looking at short- term issues. Future works could use this model to provide quantitative assessments of short-term market designs.

SiSTEM, A MODEL FOR THE SIMULATION OF SHORT-TERM ELECTRICITY MARKETS
08-11-2017 by Sébastien MATHIEU, Marie PETITET, Marie PERROT, Damien ERNST and Yannick PHULPIN
>> Read...

Peer-reviewed Publications

PRICE COMPUTATION IN ELECTRICITY AUCTIONS WITH COMPLEX RULES: AN ANALYSIS OF INVESTMENT SIGNALS
par Miguel VASQUEZ et al.
le 25-04-2017

INVESTMENT WITH INCOMPLETE MARKETS FOR RISK: THE NEED FOR LONG-TERM CONTRACTS
par Andreas EHRENMANN et al.
le 25-04-2017

TALES OF TWO ISLANDS – LESSONS FOR EU ENERGY POLICY FROM ELECTRICITY MARKET REFORMS IN BRITAIN AND IRELAND
par David NEWBERY
le 25-04-2017

RATIONALES FOR CAPACITY REMUNERATION MECHANISMS: SECURITY OF SUPPLY EXTERNALITIES AND ASYMMETRIC INVESTMENT INCENTIVES
par Jan Horst KEPPLER
le 19-04-2017

THE ROLE OF CONTINUOUS INTRADAY ELECTRICITY MARKETS: THE INTEGRATION OF LARGE-SHARE WIND POWER GENERATION IN DENMARK
par Fatih KARANFIL and Yuanjing LI
le 11-04-2017

ADAPTING ELECTRICITY MARKETS TO DECARBONISATION AND SECURITY OF SUPPLY OBJECTIVES: TOWARD A HYBRID REGIME?
par Fabien ROQUES and Dominique FINON
le 10-04-2017

SPECIAL SECTION: TOWARDS HYBRID MARKET REGIMES IN THE POWER SECTOR
par Dominique FINON, Jan Horst KEPPLER and Fabien ROQUES
le 10-04-2017

STOPPER LA DÉROUTE DES ÉLECTRICIENS EUROPÉENS : POUR UNE RÉFORME DU MARCHÉ DES QUOTAS DE CO2
par Jan Horst KEPPLER
le 20-02-2017

AN ANALYTICAL APPROACH TO ACTIVATING DEMAND ELASTICITY WITH A DEMAND RESPONSE MECHANISM
par Cédric CLASTRES and Haikel KHALFALLAH
le 10-03-2016

THE IMPACTS OF VARIABLE RENEWABLE PRODUCTION AND MARKET COUPLING ON THE CONVERGENCE OF FRENCH AND GERMAN ELECTRICITY PRICES
par Jan Horst KEPPLER, Sébastien PHAN and Yannick LE PEN
le 10-03-2016

CARBON PRICE INSTEAD OF SUPPORT SCHEMES: WIND POWER INVESTMENTS BY THE ELECTRICITY MARKET
par Marie PETITET, Dominique FINON and Tanguy JANSSEN
le 10-03-2016

LE BESOIN DE MARCHÉS DE LA FLEXIBILITÉ : L’ADAPTATION DU DESIGN DES MARCHÉS ÉLECTRIQUES AUX PRODUCTIONS D’ÉNERGIES RENOUVELABLES
par Dominique FINON
le 04-12-2015

HEDGING STRATEGIES IN ENERGY MARKETS: THE CASE OF ELECTRICITY RETAILERS
par Raphaël Homayoun BOROUMAND, Stéphane GOUTTE, Simon PORCHER and Thomas PORCHER
le 04-12-2015

ASSESSING LONG-TERM EFFECTS OF DEMAND RESPONSE POLICIES IN WHOLESALE ELECTRICITY MARKETS
par Mauricio CEPEDA and Marcelo SAGUAN
le 04-12-2015

Members Log in