Balancing Markets

Juan M. Morales (), Antonio J. Conejo (), Henrik Madsen (), Pierre Pinson () and Marco Zugno ()
Additional contact information
Juan M. Morales: Technical University of Denmark
Antonio J. Conejo: University of Castilla – La Mancha
Henrik Madsen: Technical University of Denmark
Pierre Pinson: Technical University of Denmark
Marco Zugno: Technical University of Denmark

Chapter 4 in Integrating Renewables in Electricity Markets, 2014, pp 101-136 from Springer

Abstract: Abstract This chapter explains the role of balancing markets in current power systems and introduces their functioning. It also provides several clearing algorithms, whose output is the optimal adjustments of production and consumption with respect to the day-ahead schedules, as well as the balancing energy prices. The development of such clearing algorithms emphasizes the differences between the implementation of a single-price and of a two-price settlements of imbalances. Furthermore, it shows how proactive demands and stepwise offers can be incorporated in the market clearing, and how balancing markets are cleared in a system with network constraints. These issues are further clarified through a number of simple examples. Finally, the main features of existing balancing markets in the USA and in Europe are briefly discussed.

Keywords: Market Operator; Stochastic Generator; Total Payment; Clearing Price; Stochastic Producer (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:isochp:978-1-4614-9411-9_4

Ordering information: This item can be ordered from
http://www.springer.com/9781461494119

DOI: 10.1007/978-1-4614-9411-9_4

Access Statistics for this chapter

More chapters in International Series in Operations Research & Management Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().