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Energies
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Development and Implementation of Models of Electricity Market 2020
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Development and Implementation of Models of Electricity Market 2020

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (30 April 2021) | Viewed by 20463

Special Issue Editor

Prof. Dr. Federico Silvestro

E-Mail Website
Guest Editor
Department of Electrical, Electronics and Telecommunication Engineering and Naval Architecture (DITEN), University of Genoa, Via Opera Pia 11 A, I-16145 Genova, Italy
Interests: power system modelling and control; power system dynamics and market operation; stochastic programming and optimization; distribution network management and operation; real-time control and management of electrical loads
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Market modelling in the framework of smart networks is a crucial aspect of the power system of the future. Market modelling plays a crucial role in competition and regulation to improve the end-to-end efficiency of the electric power system. The definition of different market structures and the analysis of their impact on the planning and operation of electric power systems are essential to drive changes, exploit opportunities, and widen the number of actors and stakeholders.

With this Special Issue, we are looking for contributions on the development of new market models that can improve the integration of bulk power systems and local regional power systems. For example, it is well known that regulatory and business models are essential to design efficient markets for renewables and variable demands. It is then essential to design markets that can deal with an increasing complexity and number of components and virtual entities.

Please note that this Special Issue solicits exclusively original works that are not under consideration for publication elsewhere.

Prof. Dr. Federico Silvestro
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • new regulatory and business models driven by increased distributed resources, storage, and demands
  • climate policy and electricity markets
  • localized markets
  • microgrids and virtual power plant interacting with wholesale markets

Published Papers (6 papers)

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Research

31 pages, 2544 KiB  
Article
VIRTUS Project: A Scalable Aggregation Platform for the Intelligent Virtual Management of Distributed Energy Resources
by Stefano Bianchi, Allegra De Filippo, Sandro Magnani, Gabriele Mosaico and Federico Silvestro
Energies 2021, 14(12), 3663; https://doi.org/10.3390/en14123663 - 19 Jun 2021
Cited by 3 | Viewed by 2223
Abstract
The VIRTUS project aims to create a Virtual Power Plant (VPP) prototype coordinating the Distributed Energy Resources (DERs) of the power system and providing services to the system operators and the various players of the electricity markets, with a particular focus on the [...] Read more.
The VIRTUS project aims to create a Virtual Power Plant (VPP) prototype coordinating the Distributed Energy Resources (DERs) of the power system and providing services to the system operators and the various players of the electricity markets, with a particular focus on the industrial sector agents. The VPP will be able to manage a significant number of DERs and simulate realistic plants, components, and market data to study different operating conditions and the future impact of the policy changes of the Balancing Markets (BM). This paper describes the project’s aim, the general structure of the proposed framework, and its optimization and simulation modules. Then, we assess the scalability of the optimization module, designed to provide the maximum possible flexibility to the system operators, exploiting the simulation module of the VPP. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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13 pages, 2453 KiB  
Article
Determination of Price Zones during Transition from Uniform to Zonal Electricity Market: A Case Study for Turkey
by Gokturk Poyrazoglu
Energies 2021, 14(4), 1014; https://doi.org/10.3390/en14041014 - 15 Feb 2021
Cited by 13 | Viewed by 3000
Abstract
In the electricity market, different pricing models can be applied to increase market competitiveness. Different electricity systems use different market structures. Uniform marginal pricing, zonal marginal pricing, and nodal marginal pricing methods are commonly used market structures. For markets wishing to move from [...] Read more.
In the electricity market, different pricing models can be applied to increase market competitiveness. Different electricity systems use different market structures. Uniform marginal pricing, zonal marginal pricing, and nodal marginal pricing methods are commonly used market structures. For markets wishing to move from a uniform pricing structure to a more competitive zonal pricing structure, the determination of price zones is critical for achieving a competitive market that generates accurate price signals. Three different pricing zone detection algorithms are analyzed in this paper including the k-means clustering and queen/rook spatially constraint clustering. Finally, the results of a case study for the Turkish electricity system are shared to compare each method. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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18 pages, 832 KiB  
Article
Cross-Border Electricity Trading in Southeast Europe Towards an Internal European Market
by Despoina I. Makrygiorgou, Nikos Andriopoulos, Ioannis Georgantas, Christos Dikaiakos and George P. Papaioannou
Energies 2020, 13(24), 6653; https://doi.org/10.3390/en13246653 - 17 Dec 2020
Cited by 9 | Viewed by 2423
Abstract
The European Commission’s Target Model’s main objective is to integrate European electricity markets, leading to a single internal energy market and guaranteeing the instantaneous balance between electricity generation and demand. According to the target model for electricity trading, proposed by the European Network [...] Read more.
The European Commission’s Target Model’s main objective is to integrate European electricity markets, leading to a single internal energy market and guaranteeing the instantaneous balance between electricity generation and demand. According to the target model for electricity trading, proposed by the European Network Transmission System Operators for Electricity (ENTSO-E), within each zone, electricity can be traded freely without taking into consideration network limitations. In contrast, for cross-border trading, the exchanges with other market areas are taken into account. Cross-border trade poses a further burden on the interconnection lines, resulting in increasing network congestion, which in turn restricts electricity trading. Thus, calculating the available capacity for trade has a significant ramification on the market. Today, the Available Transfer Capacity (ATC) mechanism dominates cross-border trading, but this methodology may be replaced by the Flow-Based (FB) approach across Europe. This paper investigates both approaches regarding the cross-border congestion management under the market coupling procedure. In our case study, the Southeast Europe (SEE) region is taken into consideration; it consists of both the FB and ATC approach in a five country (Greece, North Macedonia, Bulgaria, Serbia, and Romania) scenario. The purpose of our tests is to perform, compare, and evaluate the effectiveness of each method for the SEE region, while the main findings are the maximization of social welfare, better cross-border trading opportunities, and price convergence via the FB method. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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34 pages, 10823 KiB  
Article
Point and Interval Forecasting of Zonal Electricity Prices and Demand Using Heteroscedastic Models: The IPEX Case
by Mauro Bernardi and Francesco Lisi
Energies 2020, 13(23), 6191; https://doi.org/10.3390/en13236191 - 25 Nov 2020
Cited by 4 | Viewed by 1690
Abstract
Since the electricity market liberalisation of the mid-1990s, forecasting energy demand and prices in competitive markets has become of primary importance for energy suppliers, market regulators and policy makers. In this paper, we propose a non-parametric model to obtain point and interval predictions [...] Read more.
Since the electricity market liberalisation of the mid-1990s, forecasting energy demand and prices in competitive markets has become of primary importance for energy suppliers, market regulators and policy makers. In this paper, we propose a non-parametric model to obtain point and interval predictions of price and demand. It does not require any parametric assumption on the distribution of the error term or on the functional relationships linking the response variable to covariates. The assumed location–scale model provides a non-parametric estimation of the conditional mean and of the conditional variance by means of a Generalised Additive Model. Interval forecasts, at any given confidence level, are then obtained using a further non-parametric estimation of the innovation’s quantile. Since both the conditional mean and the conditional variance of the response variable are non-linear functions of covariates depending on calendar factors, renewable energy productions and other market variables, the resulting model is very flexible. It easily adapts to market conditions as well as to the non-linear characteristics of demand, supply and prices. An application to hourly data for the Italian electricity market, over the period 2015–2019 period, shows the one-day-ahead forecasting performance of the model for zonal electricity prices and level of demand. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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21 pages, 2747 KiB  
Article
Zonal and Nodal Models of Energy Market in European Union
by Piotr F. Borowski
Energies 2020, 13(16), 4182; https://doi.org/10.3390/en13164182 - 13 Aug 2020
Cited by 61 | Viewed by 6919
Abstract
Along with economic development and development of power systems, new, more effective models of the energy market are sought. Traditional zonal models used on the electricity market have proved to be poorly adapted to new circumstances and phenomena occurring in the macroeconomic environment. [...] Read more.
Along with economic development and development of power systems, new, more effective models of the energy market are sought. Traditional zonal models used on the electricity market have proved to be poorly adapted to new circumstances and phenomena occurring in the macroeconomic environment. The main aim of the research was to show the direction (including the nodal model and prosumer behavior) in which the energy market should develop in order to meet the state-of-the-art technical, ecological and social challenges. Therefore, with the new challenges, a new chapter has opened up on very interesting research for the electrical industry. There are new solutions for the development and modernization of models from the point of view of management and econometrics of the energy market, adapted to new challenges related to ecology, technology, and competition. This article presents the zone model with its imperfections and suggestions for its improvement and proposes a nodal model that may in the near future become a new model for the functioning of the electricity market in Europe. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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19 pages, 8021 KiB  
Article
Replacement Reserve for the Italian Power System and Electricity Market
by Mauro Caprabianca, Maria Carmen Falvo, Lorenzo Papi, Lucrezia Promutico, Viviana Rossetti and Federico Quaglia
Energies 2020, 13(11), 2916; https://doi.org/10.3390/en13112916 - 06 Jun 2020
Cited by 11 | Viewed by 3552
Abstract
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. [...] Read more.
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. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2020)
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