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- W3046433399 abstract "Markets for electric energy and reserves are linked as the same physical assets operate in both markets. Two different designs are commonly used for clearing energy and reserve markets; joint clearing or sequential clearing. It’s generally accepted that joint clearing results in higher (or at least the same) social welfare than a pure sequential clearing. However, the impact of an increasing share of intermittent renewables on the interdependency between energy and reserves has been underexposed in literature. This paper studies the coupling between day-ahead energy markets and reserve markets for allocation and activation, and this for different shares of intermittent renewables (i.e. wind and solar PV). Towards this end, a large scale unit commitment model is deployed to a case study inspired by the Central Western European system. Different scenarios, developed within the EU-SysFlex project, are considered. The study indicates that the interdependency between energy and reserve markets increases with increasing share of intermittent renewables. As such, the cost difference, evaluated in real-time, between joint and sequential clearing increase as well with increasing share of intermittent renewables. The analysis shows that this impact can be partially compensated by an increasing role of renewables and flexible load in reserve provision." @default.
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- W3046433399 date "2020-12-01" @default.
- W3046433399 modified "2023-10-09" @default.
- W3046433399 title "Energy and reserve markets: interdependency in electricity systems with a high share of renewables" @default.
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- W3046433399 doi "https://doi.org/10.1016/j.epsr.2020.106537" @default.
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