Arbeitspapier
Local flexibility market
A local flexibility market is presented that addresses intrazonal congestion in a zonal electricity market. The market lets system operators access flexibility at multiple voltage levels to satisfy transmission constraints. Market participants offer local flexibility intraday in a continuous trading process. This supply is matched with demand from system operators. The market-based redispatch is transparent and technology neutral. Inc-dec gaming is mitigated with features to detect and sanction the behavior. Cost-based redispatch from conventional generation serves as a backstop if additional flexibility is required close to real time. This further mitigates inc-dec gaming by disciplining behavior in the spot market. An advantage of the approach in Europe is that it represents a modest change from the current market and therefore can be implemented sooner and with less risk.
- Language
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Englisch
- Bibliographic citation
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Series: ECONtribute Discussion Paper ; No. 182
- Classification
-
Wirtschaft
- Subject
-
local flexibility
congestion pricing
market design
electricity markets
electricity regulation
- Event
-
Geistige Schöpfung
- (who)
-
Cramton, Peter C.
- Event
-
Veröffentlichung
- (who)
-
University of Bonn and University of Cologne, Reinhard Selten Institute (RSI)
- (where)
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Bonn and Cologne
- (when)
-
2022
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Cramton, Peter C.
- University of Bonn and University of Cologne, Reinhard Selten Institute (RSI)
Time of origin
- 2022
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