Additional revenues estimation in a market-based redispatch: An opportunity for flexibility

© 2024 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license ( http://creativecommons.org/licenses/by- nc-nd/4.0/ ).

Detalhes bibliográficos
Autores: Dorado Galatoire, Erick Andrés, Arcos Vargas, Ángel, Martínez Ramos, José Luis
Formato: artículo
Estado:Versión publicada
Fecha de publicación:2024
País:España
Recursos:Universidad de Sevilla (US)
Repositorio:idUS. Depósito de Investigación de la Universidad de Sevilla
OAI Identifier:oai:idus.us.es:11441/165428
Acesso em linha:https://hdl.handle.net/11441/165428
https://doi.org/10.1016/j.ecmx.2024.100745
Access Level:acceso abierto
Palavra-chave:Wholesale electricity marketDay-ahead marketMarket-based redispatchTechnical constraints
Day-ahead market
Market-based redispatch
Technical constraints
Flexible resources
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spelling Additional revenues estimation in a market-based redispatch: An opportunity for flexibilityDorado Galatoire, Erick AndrésArcos Vargas, ÁngelMartínez Ramos, José LuisWholesale electricity marketDay-ahead marketMarket-based redispatchTechnical constraintsDay-ahead marketMarket-based redispatchTechnical constraintsFlexible resources© 2024 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license ( http://creativecommons.org/licenses/by- nc-nd/4.0/ ).The technical constraints in the transmission networks are exerting significant strain on the functioning of electricity markets as the share of variable renewable energy sources is increasing. To manage this issue, the transition to a nodal pricing market has been proposed in the literature. Given that the current structure of the European Union electricity market corresponds to a zonal pricing, the transition to nodal pricing would imply fundamental changes in its market structure. In order to avoid the latter, this study develops a method to identify locational price signals in a decentralized market with zonal pricing and subsequent market-based redispatch. To this end, first, nodes with structural technical constraints are identified –using energy programmes–. Then, the additional revenues of physical units located at these nodes are estimated –using electricity prices–. Finally, this strategic information will guide the development of flexibility solutions –manageable generation capacity and demand response– in these geographic locations, mimicking the main advantage of nodal pricing. Our methodology has been empirically tested on the Spanish power system, using hourly data from the System Operator and Market Operator for four full years, from 2019 to 2022. The results show a higher and constant economic revenue in certain nodes of this system –upward redispatch price is 74.90% higher than day-ahead market price–. Thus, this method can be used by market participants to evaluate publicly available data from a decentralized market with zonal pricing and subsequent market-based redispatch, and obtain essential information to make the best investment decisions.Ingeniería EléctricaOrganización Industrial y Gestión de Empresas ITEP196: Sistemas de Energía EléctricaMinisterio de Ciencia, Innovación y Universidades (MICIU). EspañaAgencia Estatal de Investigación. EspañaEuropean Commission (EC). Plan de Recuperación, Transformación y Resiliencia de la UE (Next Generation EU/PRTR)European Commission (EC). Fondo Social Europeo Plus (ESF+)2024info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttps://hdl.handle.net/11441/165428https://doi.org/10.1016/j.ecmx.2024.100745reponame:idUS. Depósito de Investigación de la Universidad de Sevillainstname:Universidad de Sevilla (US)InglésEnergy Conversion and Management: X, 24, 100745.TED2021-131724B-I00PID2020-116433RB-I00https://www.sciencedirect.com/science/article/pii/S259017452400223Xinfo:eu-repo/semantics/openAccessoai:idus.us.es:11441/1654282026-06-17T12:51:07Z
dc.title.none.fl_str_mv Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
title Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
spellingShingle Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
Dorado Galatoire, Erick Andrés
Wholesale electricity marketDay-ahead marketMarket-based redispatchTechnical constraints
Day-ahead market
Market-based redispatch
Technical constraints
Flexible resources
title_short Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
title_full Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
title_fullStr Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
title_full_unstemmed Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
title_sort Additional revenues estimation in a market-based redispatch: An opportunity for flexibility
dc.creator.none.fl_str_mv Dorado Galatoire, Erick Andrés
Arcos Vargas, Ángel
Martínez Ramos, José Luis
author Dorado Galatoire, Erick Andrés
author_facet Dorado Galatoire, Erick Andrés
Arcos Vargas, Ángel
Martínez Ramos, José Luis
author_role author
author2 Arcos Vargas, Ángel
Martínez Ramos, José Luis
author2_role author
author
dc.contributor.none.fl_str_mv Ingeniería Eléctrica
Organización Industrial y Gestión de Empresas I
TEP196: Sistemas de Energía Eléctrica
Ministerio de Ciencia, Innovación y Universidades (MICIU). España
Agencia Estatal de Investigación. España
European Commission (EC). Plan de Recuperación, Transformación y Resiliencia de la UE (Next Generation EU/PRTR)
European Commission (EC). Fondo Social Europeo Plus (ESF+)
dc.subject.none.fl_str_mv Wholesale electricity marketDay-ahead marketMarket-based redispatchTechnical constraints
Day-ahead market
Market-based redispatch
Technical constraints
Flexible resources
topic Wholesale electricity marketDay-ahead marketMarket-based redispatchTechnical constraints
Day-ahead market
Market-based redispatch
Technical constraints
Flexible resources
description © 2024 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license ( http://creativecommons.org/licenses/by- nc-nd/4.0/ ).
publishDate 2024
dc.date.none.fl_str_mv 2024
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/11441/165428
https://doi.org/10.1016/j.ecmx.2024.100745
url https://hdl.handle.net/11441/165428
https://doi.org/10.1016/j.ecmx.2024.100745
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Energy Conversion and Management: X, 24, 100745.
TED2021-131724B-I00
PID2020-116433RB-I00
https://www.sciencedirect.com/science/article/pii/S259017452400223X
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.source.none.fl_str_mv reponame:idUS. Depósito de Investigación de la Universidad de Sevilla
instname:Universidad de Sevilla (US)
instname_str Universidad de Sevilla (US)
reponame_str idUS. Depósito de Investigación de la Universidad de Sevilla
collection idUS. Depósito de Investigación de la Universidad de Sevilla
repository.name.fl_str_mv
repository.mail.fl_str_mv
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