Simulator of the European Electrical Energy Markets
Value:
Based on performed simulations we are able to assess how the electrical energy market is influenced by installations of new power sources or other systems in the grid. Such influence may be found crucial when solving the Generation Adequacy problem or performing a Cost Benefits Analysis.
Features:
Our simulator includes the implementation of selected constraints of the Unit Commitment problem. It allows us to perform the analyses in hourly resolution and including desired probability distributions. Moreover, it is possible to integrate the simulator with the Capacity Expansion module that would allow us to investigate the effect that new installations have on the market. Those installations (e.g. conventional power units or distributed energy sources) could be determined within a cost optimization process, including scenarios covering various economic and technical limitations of the power system.
Innovation:
The simulator meets the standard of modern international (zonal) energy market modelling which is based on the Market Coupling algorithm in Flow Based version (FB MC). Our FB MC implementation includes the connection with a set of Unit Commitment constraints, reflecting the self-dispatch of Western European units and new mechanisms for calculating initialization parameters for optimization procedures.