IDEAS home Printed from https://ideas.repec.org/h/spr/isochp/978-1-4614-9411-9_4.html
   My bibliography  Save this book chapter

Balancing Markets

In: Integrating Renewables in Electricity Markets

Author

Listed:
  • Juan M. Morales

    (Technical University of Denmark)

  • Antonio J. Conejo

    (University of Castilla – La Mancha)

  • Henrik Madsen

    (Technical University of Denmark)

  • Pierre Pinson

    (Technical University of Denmark)

  • Marco Zugno

    (Technical University of Denmark)

Abstract

This chapter explains the role of balancing markets in current power systems and introduces their functioning. It also provides several clearing algorithms, whose output is the optimal adjustments of production and consumption with respect to the day-ahead schedules, as well as the balancing energy prices. The development of such clearing algorithms emphasizes the differences between the implementation of a single-price and of a two-price settlements of imbalances. Furthermore, it shows how proactive demands and stepwise offers can be incorporated in the market clearing, and how balancing markets are cleared in a system with network constraints. These issues are further clarified through a number of simple examples. Finally, the main features of existing balancing markets in the USA and in Europe are briefly discussed.

Suggested Citation

  • Juan M. Morales & Antonio J. Conejo & Henrik Madsen & Pierre Pinson & Marco Zugno, 2014. "Balancing Markets," International Series in Operations Research & Management Science, in: Integrating Renewables in Electricity Markets, edition 127, chapter 4, pages 101-136, Springer.
    • Handle: RePEc:spr:isochp:978-1-4614-9411-9_4
    DOI: 10.1007/978-1-4614-9411-9_4
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:isochp:978-1-4614-9411-9_4. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.