European market simulationsCopyright: © IAEW
The institute's electricity market simulation enables a block and hour-sharp simulation of the European electricity spot markets with a high degree of detail. In addition to conventional power plants and hydraulic storages, sector-coupling technologies such as power-to-heat and power-to-gas are also modeled. Virtual power plants and demand-side management can also be integrated into simulated market. To take account of the increasing importance of trading across market areas, the simulations are carried out throughout Europe with precise consideration of market coupling. Here, both the NTC method and the flow-based market coupling can be used depending on the application. The simulation can be used to determine schedules for the individual plants, cross-market area trading flows and electricity prices for the individual market areas. Mathematical decomposition methods, a strong parallelization of individual calculations and a high computing capacity ensure a high degree of scalability.