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Electricity market models and RES integration: The Greek case

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  • Simoglou, Christos K.
  • Biskas, Pandelis N.
  • Vagropoulos, Stylianos I.
  • Bakirtzis, Anastasios G.

Abstract

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.

Suggested Citation

  • Simoglou, Christos K. & Biskas, Pandelis N. & Vagropoulos, Stylianos I. & Bakirtzis, Anastasios G., 2014. "Electricity market models and RES integration: The Greek case," Energy Policy, Elsevier, vol. 67(C), pages 531-542.
    • Handle: RePEc:eee:enepol:v:67:y:2014:i:c:p:531-542
    DOI: 10.1016/j.enpol.2013.11.065
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    Cited by:

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    3. Stelios Loumakis & Evgenia Giannini & Zacharias Maroulis, 2019. "Renewable Energy Sources Penetration in Greece: Characteristics and Seasonal Variation of the Electricity Demand Share Covering," Energies, MDPI, vol. 12(12), pages 1-20, June.
    4. Simoglou, Christos K. & Bakirtzis, Emmanouil A. & Biskas, Pandelis N. & Bakirtzis, Anastasios G., 2018. "Probabilistic evaluation of the long-term power system resource adequacy: The Greek case," Energy Policy, Elsevier, vol. 117(C), pages 295-306.
    5. Papadopoulos, Agis M., 2020. "Renewable energies and storage in small insular systems: Potential, perspectives and a case study," Renewable Energy, Elsevier, vol. 149(C), pages 103-114.
    6. Lynch & John Curtis, 2016. "The effects of wind generation capacity on electricity prices and generation costs: a Monte Carlo analysis," Applied Economics, Taylor & Francis Journals, vol. 48(2), pages 133-151, January.
    7. Zareen, N. & Mustafa, M.W. & Sultana, U. & Nadia, R. & Khattak, M.A., 2015. "Optimal real time cost-benefit based demand response with intermittent resources," Energy, Elsevier, vol. 90(P2), pages 1695-1706.
    8. Simoglou, Christos K. & Bakirtzis, Emmanouil A. & Biskas, Pandelis N. & Bakirtzis, Anastasios G., 2016. "Optimal operation of insular electricity grids under high RES penetration," Renewable Energy, Elsevier, vol. 86(C), pages 1308-1316.
    9. Oprea Simona-Vasilica & Preotescu Dan & Bara Adela & Preda Ștefan & Tor Osman Bulent, 2020. "Software Platform for an Electricity Market Trading Simulator," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 22-34.
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