Assessing the benefits of regulating power market integration in Northern Europe |
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| Affiliation: | 1. School of Electrical Engineering and Telecommunications, The University of New South Wales, Sydney, Australia;2. Electrical Engineering Department, South Tehran Branch, Islamic Azad University, Tehran, Iran;3. Department of Industrial Engineering, University of Salerno, Fisciano, Italy;4. Young Researchers and Elite Club, Central Tehran Branch, Islamic Azad University, Tehran, Iran;5. Department of Electrical Engineering, Marvdasht Branch, Islamic Azad University, Marvdasht, Iran;1. Department of Industrial Engineering, University of Padova, Via Venezia 1, Padova, 35131, Italy;2. Department of Electric Power Engineering, NTNU, Sem Sælands vei 11, Trondheim, 7034, Norway;3. Energy Systems, SINTEF Energy Research, Sem Sælands vei 11, Trondheim, 7034, Norway;1. Department of Radiology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, 1277 JieFang Rd., Wuhan, Hubei 430022, China;2. Department of Ultrasound, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, 1277 JieFang Rd., Wuhan, Hubei 430022, China;3. Department of Pathology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, 1277 JieFang Rd., Wuhan, Hubei 430022, China;1. Department of Surgery, Section of Vascular Surgery, Hospital of the University of Pennsylvania, Philadelphia, Pa;2. Department of Surgery, Section of Vascular Surgery, Dartmouth Hitchcock Medical Center, Lebanon, NH;3. Department of Surgery, Section of Vascular Surgery, University of Massachusetts Medical Center, Worcester, Mass;4. Department of Surgery, Section of Vascular Surgery, Maine Medical Center, Portland, Me;5. Department of Surgery, Section of Vascular Surgery, Fletcher-Allen Medical Center, Burlington, Vt |
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| Abstract: | The expected increase of intermittent electricity production from renewable sources in Northern Europe poses rising challenges to the balancing of the power system. The Nordic hydro based power system, particularly the Norwegian, is in a favourable position to provide the necessary balancing services. In order to provide these services to continental Europe an integration of markets for balancing services (regulating power market) might be advantageous. Contemporaneously the European Union enforces the liberalisation and integration of national European power markets, including the regulating power markets. To investigate the possible outcome of such an integrated market, a regulating power market model is developed, which is based on a common day-ahead market, including Nordic and northern continental Europe.The proposed model considers the procurement of regulating reserves as well as their activation, taking into account available transmission capacity. Different steps of regulating power market integration are studied. The analysis confirms, that there is a socio-economic benefit by integrating regulating power markets. The benefit mainly results from a provision of reserve capacity from the Nordic to the continental European power system, the netting of imbalances and hence the reduced activation of regulating reserves in the continental power system. |
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