Market design and competition in short term electricity markets - lessons learned from a stochastic multistage energy system model

Abstract

This paper provides results from an integrated model for short-term electricity markets, including day-ahead, intraday and balancing markets. Coping with volatile renewable feed-in is a key challenge to the future European electricity system. The paper shows first results from a stochastic linear commitment and dispatch model. Aim of the model is to analyze how trading in the short-term markets will change with increasing shares of renewable energies. The model results are part of the BEAM-ME project: This project develops speed-up methods and applies models to high performance computing (HPC). The paper discusses the next steps to expand the model and challenges when applying the model to HPC.