Day-Ahead Market Modelling of Large-Scale Highly-Renewable Multi-Energy Systems: Analysis of the North Sea Region towards 2050

Juan Gea-Bermúdez, Kaushik Das, Hardi Koduvere and Matti Juhani Koivisto
Additional contact information
Juan Gea-Bermúdez: Department of Management, Technical University of Denmark (DTU), 2800 Lyngby, Denmark
Kaushik Das: Department of Wind Energy, Technical University of Denmark (DTU), 4000 Roskilde, Denmark
Hardi Koduvere: Department of Electrical Power Engineering and Mechatronics, Tallin University of Technology (TalTech), 12616 Tallinn, Estonia
Matti Juhani Koivisto: Department of Wind Energy, Technical University of Denmark (DTU), 4000 Roskilde, Denmark

Energies, 2020, vol. 14, issue 1, 1-17

Abstract: This paper proposes a mathematical model in order to simulate Day-ahead markets of large-scale multi-energy systems with a high share of renewable energy. Furthermore, it analyses the importance of including unit commitment when performing such analysis. The results of the case study, which is performed for the North Sea region, show the influence of massive renewable penetration in the energy sector and increasing electrification of the district heating sector towards 2050, and how this impacts the role of other energy sources, such as thermal and hydro. The penetration of wind and solar is likely to challenge the need for balancing in the system as well as the profitability of thermal units. The degree of influence of the unit commitment approach is found to be dependent on the configuration of the energy system. Overall, including unit commitment constraints with integer variables leads to more realistic behaviour of the units, at the cost of considerably increasing the computational time. Relaxing integer variables significantly reduces the computational time, without highly compromising the accuracy of the results. The proposed model, together with the insights from the study case, can be especially useful for system operators for optimal operational planning.

Keywords: energy system; large scale; day ahead market; operational planning; unit commitment (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1996-1073/14/1/88/pdf (application/pdf)
https://www.mdpi.com/1996-1073/14/1/88/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:14:y:2020:i:1:p:88-:d:468584

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().