Electricity market models and RES integration: The Greek case

This paper presents an extensive analysis of the Greek electricity market for the next 7-year period (2014–2020) based on an hour-by-hour simulation considering five different RES technologies, namely wind, PV, small hydro, biomass and CHP with emphasis on PV integration. The impact of RES penetrati...

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Bibliographic Details
Published in:Energy policy 2014-04, Vol.67, p.531-542
Main Authors: Simoglou, Christos K., Biskas, Pandelis N., Vagropoulos, Stylianos I., Bakirtzis, Anastasios G.
Format: Article
Language:English
Subjects:
Algorithms
Alternative energy
Applied sciences
Computer simulation
Day-ahead market
Eastern Europe
Economic data
Economic models
Economic theory
Electric energy
Electric power generation
Electric utilities
Electricity
Energy
Energy economics
Energy market
Energy policy
Energy utilization
Exact sciences and technology
General, economic and professional studies
Greece
Greeks
Integrated software
Markets
Natural energy
Photovoltaic cells
RES integration
Simulation
Software
Solar cells
Studies
Technology
Wholesale electricity market
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Summary:This paper presents an extensive analysis of the Greek electricity market for the next 7-year period (2014–2020) based on an hour-by-hour simulation considering five different RES technologies, namely wind, PV, small hydro, biomass and CHP with emphasis on PV integration. The impact of RES penetration on the electricity market operation is evaluated under two different models regarding the organization of the Greek wholesale day-ahead electricity market: a mandatory power pool for year 2014 (current market design) and a power exchange for the period 2015–2020 (Target Model). An integrated software tool is used for the simulation of the current and the future day-ahead market clearing algorithm of the Greek wholesale electricity market. Simulation results indicate the impact of the anticipated large-scale RES integration, in conjunction with each market model, on specific indicators of the Greek electricity market in the long-term. •Analysis of the Greek electricity market for the next 7-year period (2014–2020) based on hour-by-hour simulation.•Five different RES technologies are considered with emphasis on PV integration.•A power pool (for 2014) and a power exchange (for 2015–2020) are considered.•Various market indicators are used for the analysis of the impact of the RES integration on the Greek electricity market.•Two alternative tariff schemes for the compensation of the new ground-mounted PV units from 2015 onwards are investigated.
ISSN:0301-4215
1873-6777
DOI:10.1016/j.enpol.2013.11.065