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The impacts of an integrated European adjustment market for electricity under high share of renewables

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The European Commission has set a target of establishing an integrated Europe-wide electricity market for dayahead
and intraday transactions. However, there are still many open questions on the potential benefits of a
Europe-wide intraday market integration and the harmonizing market rules. This paper intends to provide a
precise insight into the potential impacts of EU policies regarding integrating electricity markets on market efficiency
and on different market players with the aim of supporting policy makers to increase the penetration of
renewables in a cost efficient manner. In this paper, we investigate and compare the current option of regional
intraday electricity market with the option of an integrated Europe-wide one, with reference to the three European
test cases with high renewable penetration: the Iberian electricity market including Spain and Portugal,
the Italian electricity market including Italy and Slovenia, and the electricity market of Germany. We consider
two 2030 scenarios: (i) the regional/local intraday electricity market, and (ii) the integration of the current
regional intraday market of the test cases into a single intraday market in Europe. The two scenarios are
modelled through stochastic Monte Carlo simulation, considering uncertainty on electricity demand, wind and
solar power. The performance of the intraday market under the two options are compared in terms of generation
cost, electricity prices, producer’ surplus, and load expenditure inside the European test cases. The simulation
results lead to the conclusion that integrating to a Europe-wide intraday electricity market is not advantageous
for power producers inside the European countries with high share of variable renewable generation, in terms of
annual generation surplus. However, from the customers’ point of view, intraday market integration is beneficial,
leading to lower cost to loads. Furthermore, it is shown that the flexibility provided by the installed capacity of
hydro pumped-storage generators within Europe, by 2030, eliminates the planned curtailment of renewable
energy sources in day-ahead and intraday markets and confines the impact of market integration on the market
performance indicators.

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Ketersediaan

EJ20168

My Library

Tersedia

Informasi Detil

Judul Seri

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No. Panggil

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Penerbit

Elsevier Ltd. : ., 2020

Deskripsi Fisik

16 p.

Bahasa

English

ISBN/ISSN

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Klasifikasi

NONE

Tipe Isi

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Tipe Media

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Tipe Pembawa

online resource

Edisi

Energy Policy 136 (2020) 111055

Subyek

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Info Detil Spesifik

Ejurnal

Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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