Integrated market scheduling with flexibility options

Nikolaos E. Koltsaklis and Jaroslav Knápek

Renewable and Sustainable Energy Reviews, 2025, vol. 208, issue C

Abstract: This work presents a generic optimization framework using advanced mixed-integer programming techniques to integrate day-ahead and balancing markets with distributed energy resources such as storage, electric vehicles, demand response, and Transmission and Distribution System Operators' coordination schemes. The day-ahead model determines optimal initial energy scheduling, while the balancing model optimizes energy and reserve products for three market designs with varying Transmission and Distribution System Operators’ coordination. The framework is applied to the interconnected Greek-Bulgarian-Romanian power system, considering 2030 installed capacities.

Keywords: Balancing markets; Day-ahead markets; Demand response; Electric vehicles; Energy storage; EUPHEMIA; Mixed-integer linear programming (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1016/j.rser.2024.115020

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