Results Part1

DLR:

Imperial:

  • For realistic and scalable results, modelling approaches should be significantly informed by the behavioural and operational characteristics of actors, which are affected by technological and regulatory developments.
  • Local market structures, such as Local Energy Markets and Communities, although there are significant challenges in their implementation, were found to present significant opportunities for more and better-shared benefits to society.
  • The performance of market clearing mechanisms when it comes to local structures like LEM and LEC can be affected by information availability and participants’ level of sophistication, while the economic viability and the transacted volume seem to be significantly affected by the tariff structures and network charges.

TNO:

Capacity Remuneration Mechanisms (CRMs):

  • Capacity Remuneration Mechanisms (CRMs) are needed, both during and after the energy transition. They reduce the investment in vRES, while promote the robustness of the power system and have a small impact on system’s costs;
  • CRMs should be based on the “demand for firm capacity” by final consumers, including households and SMEs, and also provide them with a price hedge (insurance).

VTT

  • In optimised reference systems, flexibility was achieved through investments in hydrogen turbines in the scenarios where demand-side flexibility was assumed to be largely unavailable. 
  • The findings revealed that electricity prices are highly sensitive to both the capacity mix and electricity demand. 
  • Additionally, lowering financing costs for wind power was shown to significantly reduce total system costs and reliance on fuel imports.
TUDELFT
  • vRES support is likely needed even in a steady-state, all-renewable energy system, due to the investment risks caused by year-on-year weather variance.
  • A CRM will be needed to ensure system adequacy during and after the energy transition. A capacity market is most effective, but does not support demand flexibility sufficiently. A decentralized capacity market could be better, but needs to be combined with long-term contracts for new low-carbon dispatchable capacity. 

 

Final webinar “Electricity Market Design for ~100% Renewable Power Systems”

  1. 📢 Join us in the free Final TradeRES Webinar, “Electricity Market Design for ~100% Renewable Power Systems”!

We’re thrilled to share the final results of the European H2020 TradeRES .
Dive into the insights we’ve gained, as we explore key questions shaping Europe’s renewable energy future:

🔹 How can we ensure secure energy supply and system adequacy?
🔹 Are capacity mechanisms essential in a renewable-dominant market?
🔹 How can we support vRES (variable Renewable Energy Sources) and de-risk investments?
🔹 What reforms are needed in short-term markets and ancillary services?
🔹 How can local markets and energy communities play a role within the pan-European framework?

📅 Date: November 19th, 2024
⏰ Time: 15:00 (CET)
📍 Registration required: https://www.eventbrite.pt/e/electricity-market-designs-for-100-renewable-power-systems-tickets-1059473185819

Instructions / details

  1. Register on the Eventbrite platform.
  2. A Zoom/Youtube link will be provided before the event.
    Note: the language will be English.

Programm

15h00 – Webinar opening

15h05 – TradeRES Background and Purpose
               LAURENS DE VRIES (TU DELFT)

15h15 – System Adequacy
              LAURENS DE VRIES (TU DELFT)
              INGRID SANCHEZ (TU DELFT)

15h35 – vRES Support and Investment Derisking
              CHRISTOPH SCHIMECZEK (DLR)

15h55 – Short-term Markets and Ancillary Services
              ANTÓNIO COUTO (LNEG)
              FERNANDO LEZAMA (ISEP)

16h15 – Local Markets and Energy Communities
              GORAN STRBAC (IMPERIAL COLLEGE LONDON)
              DAWEI QIU (IMPERIAL COLLEGE LONDON)
              HELLEIK SYSE (BITUNITOR)

16h35 – The European Market perspective: prices,  profits and costs
               SILKE JOHANNDEITER (ENBW)
               NIINA HELISTÖ (VTT)

16h55 – TradeRES Outcomes and Recommendations
               ANA ESTANQUEIRO (LNEG)

17h10 – Discussion & Final Remarks

17h30 – Closing of webinar

 

Any problems with registration?

– If Zoom is full, we will send a YouTube link.

Contact us at: social@traderes.eu


Recordings now available:


Presentations now available:
https://traderes.eu/events/

New deliverables available

We are pleased to announce that two important deliverables are now available for free access!

  • D5.4 Pan-European Wholesale Electricity: This report assesses future electricity market performance under various scenarios, focusing on price dynamics and the profitability of renewables. Link

  • D6.3 Tutorial and Edited Webinar Materials: This deliverable compiles edited materials from tutorials and webinars to support stakeholders in using the project’s tools, including video guides and user manuals. Link

Participation in PhD Workshop LARS​

We had the privilege of attending the Loyola Autumn Research School by the Florence School of Regulation, where young energy system modelers were taught how to create an impact with their research.
The experience, alongside top instructors and international peers, was truly inspiring and enriching!
👉 Stay tuned as we share key takeaways and insights!
#LARS #FSR #PhD #EnBW

Image credits: https://www.linkedin.com/company/43181480/admin/page-posts/published/

8th Hybrid Power Plants & Systems Workshop: Three Papers

We’re pleased to present our contributions at the 8th Hybrid Power Plants & Systems Workshop in the Azores! Here’s a quick look at our three papers:

  • Probabilistic Forecasting for Hybrid Wind-Solar Plants
    An Optimized Probabilistic Forecasting Approach for Hybridized Wind Power Plants. This paper explores how probabilistic forecasting boosts the value of hybrid wind-solar plants.

  • Energy Management in MIBEL Communities
    Energy Management in Energy Communities with Participation in MIBEL. This research discusses how probabilistic forecasts improve profitability for energy communities within the Iberian Electricity Market.

  • Enhancing Local Energy Communities
    Local Energy Communities: Enhancing Collective Investments and Profitability of Distributed Energy Resources. This work explores how integrating local energy communities with MIBEL enhances the value of distributed renewables.

For more details, visit our blog: https://traderes.eu/blog. 

Participation at EEM24: Five Papers

We are excited to share highlights from our recent participation at the 2024 20th International Conference on the European Energy Market (EEM24) in Istanbul. Here’s a brief overview of the five papers we presented:

  • Reducing Market Splitting
    Dynamic line rating can significantly reduce market splitting and lower costs in the Iberian electricity
  • New Imbalance Settlement Mechanism
    A novel mechanism with double pricing and penalties to improve self-balancing in energy markets.
  • Dynamic Reserve Capacity Procurement
    An approach to enhance reserve capacity management amid high renewable energy, improving efficiency and resource use.
  • Impact of Local Energy Markets
    Exploring how scaling up local energy markets influences wholesale prices and trading volumes.
  • Cost Recovery for Renewables
    Assessing how different support schemes affect the cost recovery for renewable energy sources in Germany.

For more details, visit our papers page: https://traderes.eu/papers/

Release of Deliverable 3.2 (2nd Edition)

The 2nd edition of 3.5 is now available, offering an in-depth analysis of electricity market actors. This report identifies various market participants and characterizes their behavior and operations, with a focus on both traditional roles and emerging functions in flexible technologies.

The updated document is available for free, link here.

Additionally, Deliverable 5.2 will be released in the coming days, stay tuned for more updates!

Newsletter 8

📬 Thrilling Announcement! 🎉 Our most recent newsletter has just been released!
📰 Immerse yourself in a realm of exclusive updates, insightful content, and more!
Don’t miss the excitement – subscribe today (accessible on the main page) for a prime view of all things!

Download the PDF: here