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- Politecnico di Milano
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- Energy Engineering
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- Energy Economics
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- Notes · By topic
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Wholesale electricity markets part 1
Study material for Energy Economics, shared by the Studwiz community and reviewed by moderators.
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1 ENERGY ECONOMICS 26 April -10 May 2016 WHOLESALE ELECTRICIT Y MARKETS – part 1 MARKETS MODELS AND FUNCTIONS 2 Summary ORGANIZED ELECTRICITY MARKETS ......................................................................................................... 3 DAY-AHEAD MARKET ............................................................................................................................ 4 Electricity pool ..................................................................................................................................... 4 Bilateral or OTC market .......................................................................................................................5 Existing markets .................................................................................................................................. 6 ANCILLARY MARKET .............................................................................................................................. 6 DAY-AHEAD MARKET EQUILIBRIUM .......................................................................................................... 7 UNCONSTRAINED MARKET CLEARING .................................................................................................. 7 …To sum up .......................................................................................................................................... 7 Two node example .............................................................................................................................. 8 CONSTRAINED MARKET CLEARING ..................................................................................................... 10 Two node example…
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