On the Coupling of the European Day-Ahead Power Markets: A Convergence Analysis

Marios Tsioufis and Thomas Alexopoulos
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Marios Tsioufis: University of Peloponnese

A chapter in Handbook of Smart Energy Systems, 2023, pp 307-325 from Springer

Abstract: Abstract Electricity markets are constantly evolving in several countries, at least in the last three decades, with Western countries leading the way. In Europe, this development happened at a different pace for all its member states, resulting in different operating frameworks and convergence issues in a single market. The European directives have helped in this direction, especially after 2000. Nevertheless, due to the technical characteristics of the electricity market and its forced dependence on the rest of the energy markets, the question of the effectiveness of these measures is raised. Given these, this chapter analyzes the current situation in the EU countries, exploiting the increased pressure for demand that appeared mainly in the second half of 2021, due to the post-Covid activity, and examines the behavior of electricity markets, in clubs of countries, in terms of convergence. The results show that the operating framework is not strong enough to cope with strong pressures, and additional improvements are needed.

Keywords: Club convergence; Electricity market structures; Merit order effect; Operating reserve demand curve (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-97940-9_154

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DOI: 10.1007/978-3-030-97940-9_154

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