[en] Given the growing share of uncertain renewable energy production, the energy transition challenges modern power systems and especially calls for increased flexibility. However, relevant information on the highly assetspecific flexibility potential is typically only known to plant operators themselves and not, e.g., to transmission system operators. Therefore, liberalized electricity markets use prices that set explicit monetary incentives to disclose the relevant private information about the market participants’ assets. In this way, information asymmetries may be reduced. Given the different challenges of an integration of renewables, we argue that the associated new forms of volatile power profiles require new forms of power-trading products. In particular, based on recent advances in technical power measurement and billing, individual and market participant-specific power profiles may be superior to the current trading of average volumes. Against this background, we first outline various evolutionary adjustments of existing power-trading products and their underlying product parameters
including (1) strengthening local pricing, (2) finer temporal granularity, (3) smaller minimum volume, and (4) shorter gate-closure time. Second, we open up a new perspective in form of a more disruptive shift towards power-profile trade, where market participants define their trading product using the actual power profile as a new product parameter.
Disciplines :
Sciences informatiques Gestion des systèmes d’information Energie
Auteur, co-auteur :
FRIDGEN, Gilbert ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX
Michaelis, Anne
Rinck, Maximilian
Schöpf, Michael; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT)
Weibelzahl, Martin
Co-auteurs externes :
yes
Langue du document :
Anglais
Titre :
The search for the perfect match: Aligning power-trading products to the energy transition
Date de publication/diffusion :
septembre 2020
Titre du périodique :
Energy Policy
ISSN :
0301-4215
eISSN :
1873-6777
Maison d'édition :
Elsevier, Royaume-Uni
Volume/Tome :
144
Peer reviewed :
Peer reviewed vérifié par ORBi
Focus Area :
Security, Reliability and Trust
Objectif de développement durable (ODD) :
7. Energie propre et d'un coût abordable
Intitulé du projet de recherche :
P17/IS/13342933/PayPal-FNR/Chair in DFS/Gilbert Fridgen
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