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Gas and Electricity Market Design for a Flexible Operation of Gas-fired Power Plants

Author

Listed:
  • Neuhoff, Karsten
  • Ruester, Sophia
  • Schwenen, Sebastian

Abstract

Gas‐fired power plants constitute a direct and important link between the gas and the electricity sectors and thus between the Target Models for electricity and gas. As the need for a flexible operation of gas-fired power plants will increase in tomorrow’s low‐carbon power markets, so also will the challenges for market design of both sectors in allowing for flexible trading arrangements. For the electricity markets, options to advance intraday and balancing market design are currently discussed, such as complex bids, the frequency of intraday and balancing market clearing, and the joint optimization of energy and reserve markets. For the gas market, concrete options for design advances are yet to be explored. The success – and the flaws – of the implementation of the new EC Network Codes for gas will provide new food for debates. Last, the interaction between gas and electricity TSOs in balancing the heavily interlinked short-term electricity and gas markets poses a need for (more) coordination between the different types of TSOs.

Suggested Citation

  • Neuhoff, Karsten & Ruester, Sophia & Schwenen, Sebastian, 2014. "Gas and Electricity Market Design for a Flexible Operation of Gas-fired Power Plants," EconStor Research Reports 102758, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esrepo:102758
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    More about this item

    Keywords

    Gas and Electricity Market Design; Gas-fired Power Plants;

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities

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