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An analysis of Unique National Prices in european day-ahead electricity auctions

Buchet, Delphine
(2020)

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Details

Supervisors
Papavasiliou, Anthony ; Madani, Mehdi
Faculty
Ecole polytechnique de Louvain
Degree label
Master [120] : ingénieur civil en mathématiques appliquées
Abstract
This master thesis focuses on comparing 3 approaches to solve the Italian day-ahead electricity auctions and quantifying the welfare loss due to the PUN requirement. After presenting the model to be solved and introducing the PUN, we showed a way to linearize the problem. We then described 3 methods to solve the feasibility problem deriving from the maximisation problem. The first method is solving a linear problem. The second is a heuristic that we have developed. The third is the method used in practice, Euphemia. In our results, we compared these 3 approaches. Then, we solved the welfare maximisation problem to quantify the welfare loss due to the PUN. Finally, we analysed the influence of the PUN on different key variables such as the flows or the zonal prices.

Citations

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Buchet, D. (2020). An analysis of Unique National Prices in european day-ahead electricity auctions. https://dial-mem.test.bib.ucl.ac.be/handle/2078.2/16778