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Thesis (Master's)

Reykjavík University > Tæknisvið / School of Technology > MEd/MPM/MSc Verkfræðideild (áður Tækni- og verkfræðideild) og íþróttafræðideild -2019 / Department of Engineering (was Dep. of Science and Engineering) >

Please use this identifier to cite or link to this item: http://hdl.handle.net/1946/36429

Title: 
  • Feasibility assessment of decentralised, layered-decomposition optimisation structure for the EU internal energy market
Degree: 
  • Master's
Abstract: 
  • Distributed Energy Resources are becoming increasingly numerous, with many positive and negative implications for the electricity sector. A decentralised, layered-decomposition optimisation structure is a proposed alternative to the current market structure that would allow local distribution areas to self-optimise their supply and demand with distributed generation. This paper explores the effects of distributed generation and investigates a regulatory framework that would adapt a layered-decomposition structure to the specifics of Europe’s internal energy market. The regulatory requirements suggested by the findings of this paper are a nodal pricing scheme, the expanded role of distribution system operators, harmonisation of the day-ahead and intraday markets, with increased granularity of intraday markets to 15-minute auctions, merging of market operators, and the establishment of local markets at the distribution level that operate as energy markets, flexibility markets, and ancillary service providers. A PEST analysis was conducted, with a decision matrix quantitatively comparing three alternative structures, a status quo “minimal DSO” structure, a grand central optimisation structure, and a decentralised layered-decomposition structure with the supporting regulatory framework. A timeline was proposed that outlined the phases for the structure’s implementation. Future recommendations are to conduct operational policy research for the coordination of local markets and to determine a market clearing optimisation formula.

Accepted: 
  • Jun 23, 2020
URI: 
  • http://hdl.handle.net/1946/36429


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