Browsing by Author "Santos, Gabriel"
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- From Day-Ahead to a 6-Hour Period-Ahead Market Adapted to the Stochastic Behaviour of Variable Energy Renewable SourcesPublication . Couto, António; Algarvio, Hugo; Lopes, Fernando; Estanqueiro, Ana; Santos, Gabriel; Lezama, Fernando; Faia, Ricardo; Carvalho, Rui; Vale, ZitaABSTRACT: The existing electricity market design challenges the fair and competitive participation of variable renewable energy sources (vRES) due to their weather dependence and limited forecasting accuracy, especially for long-time horizons, as required in the day-ahead market (DAM). These challenges impact market clearing prices and create imbalances, leading to inefficiencies, such as market-splitting events. To enhance the market efficiency and fairness for vRES producers, this work proposes a period-ahead market (PAM) with a 6-hour rolling horizon instead of the traditional 24-hour DAM. A case study of the Iberian electricity market with 2030 energy mix scenarios for Portugal and Spain, demonstrates that, in PAM, vRES producers can reduce wind and solar power forecast errors by over 7 % and 4 %, respectively, when compared with DAM. This leads to a 2 % decrease in electricity prices and an annual reduction of marketsplitting events in 158 hours thus enhancing price harmonization between Portugal and Spain. Additionally, balancing prices also decreased in PAM benefiting the balance responsible parties. The findings highlight that PAM improves the market's efficiency, a key factor in the pathway for the decarbonization of power systems.
- Market design for a reliable ~100% renewable electricity system : Deliverable D3.5Publication . Algarvio, Hugo; Vries, Laurens de; Johanndeiter, Silke; Santos, Gabriel; Ribó-Pérez, David; Sijm, Jos
- Open-access tool for linking electricity market models: 2nd EditionPublication . Algarvio, Hugo; Helistö, Niina; Kiviluoma, Juha; Jimenez, Ingrid Sanchez; Santos, Gabriel; Schimeczek, Christoph; Wang, Ni
- Open-access tool of linked electricity market models: Deliverable D4.8Publication . Rinne, Erkka; Schimeczek, Christoph; Algarvio, Hugo; Santos, Gabriel; Cvetkovic, Milos; Jimenez, Ingrid Sanchez; Vries, Laurens de; Serna, Ricardo Hernandez; Morales-España, Germán; Sijm, Jos; Estanqueiro, AnaABSTRACT: For a holistic understanding and simulation of the energy markets, many different aspects need to modelled properly. Often no single modelling tool offers the whole picture, but a combination of methods needs to be used. A model linkage platform has been chosen previously and this deliverable describes the integration of the modelling tools used in TradeRES to the linking application, Spine Toolbox. Spine Toolbox was used to build data processing and execution workflows around the energy system modelling tools Backbone, AMIRIS, EMLab, COMPETES, RESTrade and MASCEM. The aim is to integrate selected tools together for answering the research questions in the TradeRES project. The integrations of individual tools and some combinations are described in this document. Mostly, the work is still in progress. Also, a common database to serve the case studies has been created, but populating the database with scenario data is still in progress. A common data model to serve all the modelling tools has been created and the database is implemented using Spine Toolbox.
- Performance assessment of current and new market designs and trading mechanisms for Local Energy Communities (Case Study A) : Deliverable D5.2Publication . Algarvio, Hugo; Chrysanthopoulos, Nikolaos; Couto, António; Santos, Gabriel; Strbac, Goran; Syse, Helleik; Qiu, Dawei
- Performance assessment of current and new market designs and trading mechanisms for national and regional markets : Deliverable D5.3Publication . Estanqueiro, Ana; Couto, António; Sperber, Evelyn; Santos, Gabriel; Strbac, Goran; Algarvio, Hugo; Jimenez, Ingrid Sanchez; Kochems, Johannes; Sijm, Jos; Nienhaus, Kristina; Vries, Laurens de; Wang, Ni; Chrysanthopoulos, Nikolaos; Gregorio, Noelia Martin; Carvalho, Rui; Faia, Ricardo; Vale, Zita
- Recommendations for market trading in a ~100% power system : Deliverable D6.5Publication . Algarvio, Hugo; Couto, António; Helistö, Niina; Silke, Johanndeiter; Kiviluoma, Juha; Kochems, Johannes; Nienhaus, Kristina; Jimenez, Ingrid Sanchez; Santos, Gabriel; Schimeczek, Christoph; Sijm, Jos; Syse, Helleik; Wolff, Russe
- Reduction of the Market Splitting Occurrences: A Dynamic Line Rating Approach for the 2030 Iberian Day-ahead Market ScenariosPublication . Algarvio, Hugo; Couto, António; Estanqueiro, Ana; Carvalho, Rui; Santos, Gabriel; Faia, Ricardo; Faria, Pedro; Vale, ZitaABSTRACT: Typically, Transmission System Operators apply power flow models with Seasonal Line Rating prescriptions to compute the ampacity of power lines, in a process that enables to obtain the cross-border capacity for trading between different countries or market zones. These seasonal-dependent models rely on fixed conservative meteorological conditions throughout the year, underestimating the real-time transmission capacity of overhead lines. This can contribute to market splitting occurrences, i.e., a situation where the cleared power flow between different market zones of the coupled market is superior to the cross-border capacity, separating markets, which brings economic losses to market participants. Dynamic Line Rating analysis allows computing the overhead lines’ capacity considering the weather conditions that influence the power line's thermal dynamics. This work presents a study that applies the CIGRÉ 601 model in cross-border power lines between Portugal and Spain to quantify the reduction in market splitting occurrences in the day-ahead Iberian market considering based on the installed capacities from the 2030 national energy and climate plans. Comparing with the seasonal approach, dynamic line rating enabled to reduce the number of market splitting occurrences from 1512 to 514, reducing the electricity costs by more than 1% and the price difference from 19 to 12 €/MWh.
- The Role of Demand and Vres Flexibility in Carbon-Neutral Power Systems: Insights from Portugal and Spain in Prospective 2050 ScenariosPublication . Algarvio, Hugo; Couto, António; Lopes, Fernando; Estanqueiro, Ana; Faia, Ricardo; Santos, Gabriel; Carvalho, Rui; Faria, Pedro; Vale, ZitaABSTRACT: The goal of a carbon-neutral society by 2050 is speeding up the integration of variable renewable energy sources (vRES) in European power systems. For the expected levels of vRES, the adaptation of the demand will be crucial to manage the stochastic behaviour of these technologies. This work evaluates the impact of four prospective 2050 energy mix scenarios in the Iberian electricity market. All scenarios consider near 100% vRES shares. Scenarios that incentivize demand flexibility (S2 and S4) result in the lowest wholesale prices and costs for society. Peak load reduction using demand response occurred in the two scenarios (S1 and S3) with low demand flexibility and high share of renewable generation. S3 is the most unstable leading to the higher wholesale prices. The results highlight that an equilibrium between demand flexibility and investments in the generation side is essential for reducing costs and ensuring stability.
- Tutorial and webinar edited material (D6.2.2) : Deliverable D6.3Publication . Schimeczek, Christoph; Santos, Gabriel; Algarvio, Hugo; Jimenez, Ingrid Sanchez; Putkonen, Nelli