Next Article in Journal
Data-Driven Distributionally Robust Stochastic Control of Energy Storage for Wind Power Ramp Management Using the Wasserstein Metric
Previous Article in Journal
Flow Angularity Investigations in an Automotive Slotted Wall Wind Tunnel
Previous Article in Special Issue
Reactive Power Management Considering Stochastic Optimization under the Portuguese Reactive Power Policy Applied to DER in Distribution Networks
Open AccessArticle

Variable Renewable Energy and Market Design: New Products and a Real-World Study

1
LNEG–National Laboratory of Energy and Geology, Est. Paço Lumiar 22, 1649-038 Lisbon, Portugal
2
Instituto Superior Técnico, 1049-001 Lisbon, Portugal
*
Author to whom correspondence should be addressed.
Energies 2019, 12(23), 4576; https://doi.org/10.3390/en12234576
Received: 14 October 2019 / Revised: 22 November 2019 / Accepted: 27 November 2019 / Published: 30 November 2019
(This article belongs to the Special Issue Multi-Agent Energy Systems Simulation)
Most existing energy markets (EMs) were not designed to take into account an active participation of variable renewable energy (VRE). This situation results typically in imbalances and substantial costs in balancing markets. Such costs are reflected both in the energy and the VRE parts of the consumer tariffs. Both appropriate market products and new elements of market design may largely facilitate the large-scale integration of VRE in EMs. Accordingly, this article presents a new bilateral energy contract and introduces two new marketplaces that can contribute to reduce the imbalances resulting from VRE producers. It also presents a study conducted with the help of an agent-based tool, called MATREM. The results indicate a significant decrease in the imbalances and the associated costs. View Full-Text
Keywords: day-ahead market; balancing market; bilateral trading; market design; variable renewable energy; agent-based simulation; MATREM system day-ahead market; balancing market; bilateral trading; market design; variable renewable energy; agent-based simulation; MATREM system
Show Figures

Graphical abstract

MDPI and ACS Style

Algarvio, H.; Lopes, F.; Couto, A.; Estanqueiro, A.; Santana, J. Variable Renewable Energy and Market Design: New Products and a Real-World Study. Energies 2019, 12, 4576.

Show more citation formats Show less citations formats
Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Article Access Map by Country/Region

1
Back to TopTop