Page 31 - European Energy Innovation magazine - spring 2023 edition

Figure 2

based on optimization models
and those were recently simulated
for national and regional markets:
These include, e.g. scenario S0 to
capture key milestones of the energy
transition process which is planned
to occur by the year 2030. The
expected transition until 2050 (when
climate-neutrality is to be reached)
is addressed through S1-S4 TradeRES
Scenarios. These are identified as
the “Conservative” (S1), “Flexible”
(S2), “Variable” (S3) and the “Radical”
(S4) scenarios. The timeline in Fig.
3 positions the scenarios to the key
milestone years and also indicates
the Starting Point Scenario (SPS) that
refers to a historic recent year with
stable market and power system
performance (i.e., 2019, recently
simulated) [see Deliverable 5.3]. Figure 3

The Local, National and Regional
European Markets
Although it is not within TradeRES
work programme to address the actual
volatility of electricity markets, mainly
induced by external factors, the recent
events further enhanced the need
to electricity markets and carefully
identify their vulnerabilities, to design D addressed the Iberian market market basis. The parameterizations
new features that are more robust and (MIBEL) with the agent-based models assumed in the Iberian case study (D)
present a lower level of risk for all the MASCEM and RESTrade to analyse revealed different market outcomes
players involved. In that context, it is new market features able to mitigate for Portugal and Spain. E.g., when
of particular relevance to study the the impact of vRES variability and levelized remuneration supports (the
future evolution of existing electricity uncertainty in the market revenues of same as described for the German
markets in Europe, what TradeRES those power plants. case study) were applied to both
recently successfully concluded. countries for the SPS scenario, in
Given the parameterisation of the Portugal only the two-way contract
The National and Regional European SPS (including a moderate CO for differences (CfDs) scheme
2
Markets accomplished the set and commodity price level), for the does not enable players to obtain
of simulations by addressing the remuneration schemes examined (an remunerations above the variable
following aspects: Case Study B – the EOM without support, a fixed market premium, used as reference, whereas
behaviour of the Dutch electricity premium, a variable market premium, in Spain, in what concerns wind
market using the soft-linked market a two-sided Contracts for Differences energy, none of the support schemes
models AMIRIS-EMLabpy aiming scheme and a capacity premium), allowed wind investors recovering
to analyse both if an energy-only not much difference is observed in their (annualised) investment costs.
market will be sufficient to achieve terms of most market performance
the Netherlands’ vRES target for indicators (MPIs) studied. This holds Economic Benefits of P2P Energy
2050 and to analyse if such a system for a system with a moderate RES Trading Paradigm
can ensure security of supply. Case share (34%) and relatively low average Based on the trading paradigm
study C addressed the German day- price levels compared to the current shown in Fig. 4, within TradeRES a
ahead market using the agent-based high price situation. Given such a peer-to-peer (P2P) trading platform
model AMIRIS to analyse the need price levels it was also found that is coordinating energy trading
and possible design of remuneration renewables would not be able to (quantities and prices) among three
schemes for vRES; Case study recover their full costs on a pure microgrids (MGs), independent of the

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