Market Modeling in an Integrated Grid and Power Market Simulation

Torsten Rendel () and Lutz Hofmann ()
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Torsten Rendel: Institute of Electric Power Systems
Lutz Hofmann: Institute of Electric Power Systems

A chapter in Operations Research Proceedings 2012, 2014, pp 339-344 from Springer

Abstract: Abstract Followed by the liberalization of the European market for electrical energy, the amount of transmitted power between the countries increases and thus affects electricity prices. Therefore, the loads of the weakly built interconnection lines between countries approach their physical limits. Furthermore, the construction of decentralized generation units, especially renewable power generation, changes the generation structure as a whole. In order to analyse the changes in the European power system, the Institute of Electric Power Systems in Hannover is developing an integrated grid and power market simulator to analyse possible future scenarios in electric power systems. This simulation tool calculates a power plant schedule in order to run power system simulations based on the loads given by the schedule.

Keywords: Power Plant; Marginal Cost; Market Model; Electricity Price; Electric Power System (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-00795-3_50

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DOI: 10.1007/978-3-319-00795-3_50

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