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Anckaert_58701400_2021.pdf
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- The continuously increasing share of renewable energy raises significant challenges. Although they are cleaner and better for the environment, they are profoundly different from units that use other ressources. This kind of energy is not one hundred percent reliable, and can thus create imbalances in the market. Unexpected events can happen on the grid and influence the market, such as a change in the production capacity that may occur due to outages or that renewable energy are not online due to bad weather, or an unexpected peak or drop in the amount of energy that is consumed. This raises the crucial concept of reserve trading, representing production capacity saved that can be used in case of these unexpected events. Energy and reserve can be co-optimized in the day-ahead market. Every units has its specific characteristic and some of them have a precise cost structure that requires the use of binary variables in the optimisation process, making the energy market non-convex. Consequently, pricing rules must be build from scratch require side payments. The optimization models described in this thesis are co-optimising energy and reserve. A transmission system is also added to these models and two pricing rules are applied to these models, and the resulting prices are analysed. Finally, theses models are applied to a real-scale model of Belgium.