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The search for the perfect match : Aligning power-trading products to the energy transition

Title data

Fridgen, Gilbert ; Michaelis, Anne ; Rinck, Maximilian ; Schöpf, Michael ; Weibelzahl, Martin:
The search for the perfect match : Aligning power-trading products to the energy transition.
In: Energy Policy. Vol. 144 (2020) .
ISSN 0301-4215
DOI: https://doi.org/10.1016/j.enpol.2020.111523

Official URL: Volltext

Project information

Project title:
Project's official titleProject's id
Projektgruppe WI Energie und kritische InfrastrukturenNo information

Abstract in another language

Given the growing share of uncertain renewable energy production, the energy transition challenges modern
power systems and especially calls for increased flexibility. However, relevant information on the highly asset-specific flexibility potential is typically only known to plant operators themselves and not, e.g., to transmission system operators. Therefore, liberalized electricity markets use prices that set explicit monetary incentives to disclose the relevant private information about the market participants’ assets. In this way, information asymmetries may be reduced. Given the different challenges of an integration of renewables, we argue that the associated new forms of volatile power profiles require new forms of power-trading products. In particular, based on recent advances in technical power measurement and billing, individual and market participant-specific power profiles may be superior to the current trading of average volumes. Against this background, we first outline various evolutionary adjustments of existing power-trading products and their underlying product parameters including (1) strengthening local pricing, (2) finer temporal granularity, (3) smaller minimum volume, and (4) shorter gate-closure time. Second, we open up a new perspective in form of a more disruptive shift towards power-profile trade, where market participants define their trading product using the actual power profile as a new product parameter.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Energy transition; Flexibility market trading; Power-trading products; Electricity exchange
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Business Administration
Faculties > Faculty of Law, Business and Economics > Department of Business Administration > Professor Information Systems and Sustainable IT Management
Research Institutions
Research Institutions > Affiliated Institutes
Research Institutions > Affiliated Institutes > Fraunhofer Project Group Business and Information Systems Engineering
Research Institutions > Affiliated Institutes > FIM Research Center Finance & Information Management
Result of work at the UBT: Yes
DDC Subjects: 000 Computer Science, information, general works > 004 Computer science
300 Social sciences > 330 Economics
Date Deposited: 25 Jun 2020 08:59
Last Modified: 25 Jun 2020 09:00
URI: https://eref.uni-bayreuth.de/id/eprint/55601