Development and application of a technical-economic model of the electricity market

Over the past years, new types of generation and exploitation of Renewable Energy Sources (RES) , i.e. wind and solar sources, have been significantly increased and encouraged. RES have two main features: they are intermittent and decentralized. They are produced and distributed in a more decentralized fashion and their availability mainly depends on the environmental conditions. The increase in supply from RES affects the stability of the power grid, complicate supply-demand balancing and require adequate changes in pricing mechanism determined by the market. The objective of this NWO project is to give integrated insights in technical, economic and societal impacts of different markets design given the growth in RES.