Project LaRInEM – Large-Scale Renewable Integration in Electricity Markets
LaRInEM aims at investigating the effects of large-scale renewable integration on the operation of the electricity market and proposing measures for the efficient large-scale renewable integration.
An integrated simulation tool for the unified analysis of renewable integration in electricity markets in different time scales (medium-/short-term) will be developed. The tool will be parametric on the market design (e.g. centralized/decentralized, zonal/nodal, etc.) and comprise advanced mathematical optimization models necessary for the realistic modeling of the short-term (day-ahead, intra-day and real-time) market operation. The uncertainty of renewable generation will be taken into account through the formulation and solution of the respective market simulation models in a stochastic programming framework. The level of modeling detail regarding the units’ operational constraints, the transmission system constraints and the simulation time step will depend on the relevant time scale.
The integrated simulation tool will be applied on the Greek electricity market, in order to:
- derive concrete conclusions on the effect of large-scale renewable integration on several Greek electricity market indicators, (e.g. market prices, GHG emissions, production cost, operational patterns of conventional units, RES spillage, consumer payment, etc.).
- define the appropriate model for the participation of RES in the short-term electricity markets (day-ahead and intra-day markets).
- investigate the effectiveness of state-of-the-art and new methods (e.g. storage, hybrid plants, demand response, increase of interconnector capacity, electric cars, resource aggregation) for the efficient and secure operation of the power system with increased RES penetration.
LaRInEM is funded by the General Secretariat of Research and Technology (GSRT), Hellenic Ministry of Education and Religious Affairs, Culture and Sports, in the context of the Action “ARISTEIA”, under the Operational Program “Education and Lifelong Learning”, which is co-funded by the European Social Fund and Greek Funds.
LaRInEM started on September 27-th, 2012 and will last for 36 months. The total project budget is €224.913,24.