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Energies
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Development and Implementation of Models of Electricity Market 2019
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Development and Implementation of Models of Electricity Market 2019

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 (10 May 2019) | Viewed by 22479

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. 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

20 pages, 290 KiB  
Article
EU Carbon Emissions Market Development and Its Impact on Penetration of Renewables in the Power Sector
by Marcin Rabe, Dalia Streimikiene and Yuriy Bilan
Energies 2019, 12(15), 2961; https://doi.org/10.3390/en12152961 - 1 Aug 2019
Cited by 26 | Viewed by 3483
Abstract
This paper focuses on the analysis of the EU carbon trading scheme and its impacts on regional power system development and penetration of renewable energy sources (RES). The aim of the article is to analyze the forecasts of carbon dioxide (EUA) prices for [...] Read more.
This paper focuses on the analysis of the EU carbon trading scheme and its impacts on regional power system development and penetration of renewable energy sources (RES). The aim of the article is to analyze the forecasts of carbon dioxide (EUA) prices for the years 2019–2030 and to apply the results of this forecast in regional power system planning. The data employed in this paper come from many sources, including empirical data of the selected analytical companies, such as Thomson Reuters among others. The current low prices for carbon dioxide emission rights do not encourage the reduction of greenhouse gas emissions, in particular carbon dioxide, and do not have a significant impact on the penetration of renewables. This paper presents the results of two scenarios (for 2021 and 2030) developed after the analysis of the EUA price impact on penetration of renewable energy sources in West-Pomeranian region assuming different electricity production and the EUA price forecasts. The results of two regional energy development scenarios run for 2021 and 2030 indicate changes in the structure of renewables in West-Pomeranian region. The results also show that the increase of EUA price has a significant impact on the increase of costs for power production and increase of unit cost of the installed 1GWh. In addition, the forecasted EUA price in 2030 is 3% lower as compared with 2021, which has its impact on the increased share of electricity produced by co-firing biomass with other fossil—from 42% to 68% in the electricity generation structure of West-Pomeranian region. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
18 pages, 1857 KiB  
Article
Real Levelized Cost of Energy with Indirect Costs and Market Value of Variable Renewables: A Study of the Korean Power Market
by Sung-Hyun Hwang, Mun-Kyeom Kim and Ho-Sung Ryu
Energies 2019, 12(13), 2459; https://doi.org/10.3390/en12132459 - 26 Jun 2019
Cited by 13 | Viewed by 5565
Abstract
A levelized cost of energy (LCOE) is a methodology for comparing power generation costs in the transition to renewable energy (RE). However, the major limitation of evaluating RE based on the LCOE is that it does not consider indirect [...] Read more.
A levelized cost of energy (LCOE) is a methodology for comparing power generation costs in the transition to renewable energy (RE). However, the major limitation of evaluating RE based on the LCOE is that it does not consider indirect costs, such as the environmental and curtailment effect. This paper proposes the real LCOE (rLCOE) approach that accounts for indirect and direct generation costs. The mathematical approach to estimating indirect costs is derived from economic theory. The indirect effects, which quantify all benefits generated due to RE, is related to the variability of the share RE in the energy generation mix. The rLCOE enhances the accuracy of the economic comparison of power generation costs and the derivation of the optimal quantities of RE because external effects are incorporated into the LCOE principles. This approach has taken into account electricity demand, fuel prices, and environmental costs for each energy source to adequately compare generation costs. Simulations have been performed to demonstrate the application of the rLCOE approach in the Korean power market. Here, the unit variation of costs with the RE share were analyzed. The results show that indirect cost savings of an additional unit of RE begin to fall in scenario 3 in contrast to the result of LCOE approach indicating higher generation costs with RE share, especially, the proportion of RE in the generation mix is higher than 20%. Thus, the optimal power generation can be evaluated using the rLCOE approach. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
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16 pages, 623 KiB  
Article
Achievements of the European Union Countries in Seeking a Sustainable Electricity Sector
by Indre Siksnelyte and Edmundas Kazimieras Zavadskas
Energies 2019, 12(12), 2254; https://doi.org/10.3390/en12122254 - 12 Jun 2019
Cited by 25 | Viewed by 3320
Abstract
The electricity production sector has a significant share of final energy consumption and has a huge potential to use more renewable energy sources. Over the last two decades, the European Union (EU) reform of electricity markets has had positive results, and market liberalization [...] Read more.
The electricity production sector has a significant share of final energy consumption and has a huge potential to use more renewable energy sources. Over the last two decades, the European Union (EU) reform of electricity markets has had positive results, and market liberalization acts as a stimulus for energy efficiency, lower prices, and technological progress. Today’s EU policy for the development of electricity and the entire energy sector seeks to provide system modernization, stability, reinforcement of the single market, and implementation of climate change policy with an emphasis on the decarbonization of energy sources and the increase of energy efficiency. After all of the EU efforts to form an electricity sector in member states, it is necessary to assess the efficiency of the policy implemented and to identify the results achieved in shaping a sustainable electricity sector. The purpose of this article is to carry out a sustainability assessment of the electricity sector in the EU countries. A set of eight indicators designed to assess the sustainability of the electricity sector of different EU countries in 2017 has been drawn up. The assessment is made using the multi-criteria decision-making method (MCDM) Technique for Order Preference (TOPSIS). The assessment shows that the electricity market of Slovenia is the most sustainable, with Luxembourg in the second position in the EU. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
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15 pages, 2891 KiB  
Article
A New Model to Simulate Local Market Power in a Multi-Area Electricity Market: Application to the European Case
by Alberto Orgaz, Antonio Bello and Javier Reneses
Energies 2019, 12(11), 2068; https://doi.org/10.3390/en12112068 - 30 May 2019
Cited by 5 | Viewed by 2399
Abstract
The work presented in this article proposes an original method that models the medium-term market equilibrium under imperfect competition circumstances in multi-area electricity systems. It provides a system analysis considering multiple market splitting possibilities, where local market power may appear according to the [...] Read more.
The work presented in this article proposes an original method that models the medium-term market equilibrium under imperfect competition circumstances in multi-area electricity systems. It provides a system analysis considering multiple market splitting possibilities, where local market power may appear according to the status of the interconnections. As a result of new policies and regulations, power systems are increasingly integrating the existing electricity markets in unified frameworks. The integration of electricity markets poses highly challenging tasks due to the uncertainty that comes from the agents’ strategic behaviors which depend on multiple factors, for instance, the state of the interconnections. When it comes to modeling these effects, the purpose is to identify each strategy by using conjectured-price responses that depend on the different states of the system. Consequently, the problem becomes highly combinatorial, which heightens its size as well as its complexity. Therefore, the purpose of this work’s methodology is the reduction of the possible network configurations so as to ensure a computational tractability in the problem. In order to validate this methodology, it has been put to the test in a realistic and full-scale two-year operation planning model of the European electricity market that consists of a group of nine countries. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
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19 pages, 1348 KiB  
Article
Analysis of the Energy Consumption Behavior of European RES Cooperative Members
by Nikolaos Sifakis, Nikolaos Savvakis, Tryfon Daras and Theocharis Tsoutsos
Energies 2019, 12(6), 970; https://doi.org/10.3390/en12060970 - 13 Mar 2019
Cited by 21 | Viewed by 4427
Abstract
REScoops are cooperatives of renewable energy producers and/or consumers that are being formed in the developing European Smart Grid. Today, there are more than 2397 REScoops with more than 650,000 members. Their development indicates the necessity of producing and consuming green energy, assists [...] Read more.
REScoops are cooperatives of renewable energy producers and/or consumers that are being formed in the developing European Smart Grid. Today, there are more than 2397 REScoops with more than 650,000 members. Their development indicates the necessity of producing and consuming green energy, assists the fight against energy poverty, and reduces greenhouse gas emissions by utilizing smart management systems and self-consumption techniques. An essential objective of the H2020 REScoop Plus project is to stimulate better understanding and promote the cooperatives’ commitment to behavioral change. To achieve such a goal, this paper presents the methodology adopted to assess the energy-saving activities and behavior of the REScoops. In order to obtain relevant conclusions, a detailed statistical analysis was undertaken. Moreover, the analysis led to an effective classification of the various members, providing insights regarding their contribution to consumption reduction according to various specific characteristics. The statistical analysis showed that REScoop members contribute significantly to energy conservation and the reduction of harmful gas emissions, and subsequently, the majority of the energy efficiency (EE) interventions led to achieving more than 20% reductions. Specific practices, already adopted by the REScoops, lead to increased energy efficiency and environmental benefits. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
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29 pages, 8955 KiB  
Article
The Equilibrium Model for the Coexistence of Renewable Portfolio Standards and Emissions Trading: The Supply Chain Analysis
by Wenhui Zhao, Xiongjiantao Bao, Guanghui Yuan, Xiaomei Wang and Hongbo Bao
Energies 2019, 12(3), 439; https://doi.org/10.3390/en12030439 - 30 Jan 2019
Cited by 5 | Viewed by 2699
Abstract
China will impose both renewable portfolio standards (RPS) and emissions trading (ET) on the electricity industry, but the product competition in the retail market and the influence of the supply chain network structure has not been investigated. This paper studies policy effects by [...] Read more.
China will impose both renewable portfolio standards (RPS) and emissions trading (ET) on the electricity industry, but the product competition in the retail market and the influence of the supply chain network structure has not been investigated. This paper studies policy effects by comparing equilibrium results under different supply chain network structures, and we use the concept of consumer environmental awareness to capture a product’s substitutability. Results indicate that: (1) Both increases in the permit price and the rise of the quota obligation reduces the aggregate profits of the supply chain, but the former rather than the latter increases the profits of the renewable power generating company; (2) the differential pricing improves the retailer’s flexibility in the charged price when confronting increases in the permit price and the quota obligation; (3) higher consumer environmental awareness makes the supply chain less profitable and increases the costs of ET suffered by the consumer; (4) the cooperation between the thermal power generating company and the retailer significantly increases the aggregated profits of the supply chain, although the cooperative profit is sensitive to environmental awareness. Moreover, the consumer suffers the highest costs that the retailer passes on them, and may prefer to feel that the emission cost and compliance cost are less affordable. In contrast, the cooperation between power generating companies removes the influence of environmental awareness, but the aggregated profits of the supply chain are smaller than in the decentralized decision scenario. Full article
(This article belongs to the Special Issue Development and Implementation of Models of Electricity Market 2019)
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