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Energies
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Technical and Economic Analysis of Electricity Markets
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Technical and Economic Analysis of Electricity Markets

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 (20 March 2024) | Viewed by 4106

Special Issue Editor

Prof. Dr. Javier Contreras

E-Mail Website
Guest Editor
Higher Technical School of Industrial Engineering, University of Castilla-La Mancha, Campus Universitario S/N, 13071 Ciudad Real, Spain
Interests: power system operation; power system planning; distributed generation; distribution planning; renewable energy sources; smart grid; distribution reliability; demand-side management; energy storage; electric vehicles; optimization
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Electricity markets have become the natural way for energy to be exchanged among the users of electric networks. Nevertheless, many aspects deserve further study, such as the best auction models, the types of markets (bilateral, multilateral, auction-based, etc.), the economics of energy exchange, the resulting possible equilibria, etc.

Thus, this Special Issue will deal with both the technical and economic aspects of electricity markets from a variety of diverse perspectives. Topics of interest include, but are not limited to the following:

  • Auction design of electricity markets;
  • Economics of electricity markets;
  • Reserve and adjustment markets;
  • Impact of renewable energy and storage in market results;
  • Market power and regulation;
  • Optimal bidding strategies;
  • Market equilibria.

We look forward to your submissions to this Special Issue.

Prof. Dr. Javier Contreras
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

  • electricity market design
  • bilateral and multilateral contracts
  • auction-based markets
  • market equilibrium
  • market bidding and trading

Published Papers (2 papers)

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Research

29 pages, 4193 KiB  
Article
Profitability and Revenue Uncertainty of Wind Farms in Western Europe in Present and Future Climate
by Bastien Alonzo, Silvia Concettini, Anna Creti, Philippe Drobinski and Peter Tankov
Energies 2022, 15(17), 6446; https://doi.org/10.3390/en15176446 - 03 Sep 2022
Cited by 1 | Viewed by 1858
Abstract
Investments into wind power generation may be hampered by the uncertainty of future revenues caused by the natural variability of the wind resource, the impact of climate change on wind potential and future electricity prices, and the regulatory risks. We quantify the uncertainty [...] Read more.
Investments into wind power generation may be hampered by the uncertainty of future revenues caused by the natural variability of the wind resource, the impact of climate change on wind potential and future electricity prices, and the regulatory risks. We quantify the uncertainty of the economic value of wind farms in France, Germany, and Denmark, and evaluate the cost of support mechanisms needed to ensure the profitability of wind farms under present and future climates. To this end, we built a localised model for wind power output and a country-level model for electricity demand and prices. Our study reveals that support mechanisms are needed for current market conditions and the current climate, as well as under future climate conditions according to several scenarios for climate change and energy transition. The cost of support mechanisms during a 15-year period is evaluated to EUR 3.8 to EUR 11.5 billion per year in France, from EUR 15.5 to EUR 26.5 billion per year in Germany, and from EUR 1.2 to EUR 3.3 billion per year in Denmark, depending on the scenario considered and the level of penetration of wind energy. Full article
(This article belongs to the Special Issue Technical and Economic Analysis of Electricity Markets)
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28 pages, 8171 KiB  
Article
Flexible Short-Term Electricity Certificates—An Analysis of Trading Strategies on the Continuous Intraday Market
by Rainer Baule and Michael Naumann
Energies 2022, 15(17), 6344; https://doi.org/10.3390/en15176344 - 30 Aug 2022
Cited by 1 | Viewed by 1739
Abstract
The most important price for short-term electricity trading in Germany is the day-ahead auction price, which is provided by EPEX SPOT. Basically, short-term fluctuating electricity prices allow cost-optimized production planning by shifting electricity-intensive processes to times of favorable electricity prices. However, the day-ahead [...] Read more.
The most important price for short-term electricity trading in Germany is the day-ahead auction price, which is provided by EPEX SPOT. Basically, short-term fluctuating electricity prices allow cost-optimized production planning by shifting electricity-intensive processes to times of favorable electricity prices. However, the day-ahead price as the outcome of an auction is not directly tradeable afterwards. We propose short-term flexible electricity certificates that pass on the day-ahead auction prices plus a premium for the supplier, enabling users to plan electricity consumption based on realized day-ahead auction prices. We analyze the supplier’s problem of delivering electricity based on such certificates. The supplier can adjust the required electricity volume after the close of the day-ahead auction on the continuous intraday market. We analyze the price fluctuations in this market in relation to the day-ahead price and propose different trading strategies. Using the order book history of EPEX SPOT, we analyze the trading success and risk of these strategies. Furthermore, we investigate to what extent trading success can be explained by changes in market conditions, and, in particular, we identify renewable forecast errors as a driver. Full article
(This article belongs to the Special Issue Technical and Economic Analysis of Electricity Markets)
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