Unit:
Κατεύθυνση Οικονομικά, Διοικητικά και Πληροφοριακά Συστήματα ΕπιχειρήσεωνLibrary of the Faculty of Economics and of the Faculty of Business Administration
Supervisors info:
Υψηλάντης Παντελής, Ομότιμος Καθηγητής ΑΤΕΙ Λαρισας, Τμ. Διοίκησης Επιχειρήσεων
Μπίσκας Παντελής, Επίκ.Καθηγητής του ΑΠΘ, Τμ. Ηλεκτρολόγων Μηχανικών και Μηχανικών Υπολογιστών
Original Title:
Εκκαθάριση αγοράς επόμενης ημέρας στο ελληνικό χρηματιστήριο ενέργειας με απλές ωριαίες προσφορές υπό καθεστώς Target Model
Translated title:
Clearing of the day ahead market from the hellenic energy exchange S.A. with simple hourly offers under Target Model
Summary:
In June 2018, the "Hellenic Energy Exchange S.A." (HEnEx) was founded based on the European model of integration - Target Model (T.M). The aim of this model is to create the appropriate regulatory framework for the integration of the Greek wholesale electricity market into the single European market for the benefit of market participants and final consumers.
The purpose of this thesis is:
a) Α short but comprehensive description of the new wholesale electricity market as it stands.
b) The development of a simulation model for the solution of the Day-Ahead Market (D.A.M.) in Microsoft Excel environment with simple hourly offers of the Greek Electricity Market, under Target Model (T.M).
c) The comparison of the results of the model with the already established prices of the HEnEx.
As input data (Injection Offers / Load Declarations) for the solution of D.A.M, was used simulated data, based on assumptions of published data of Hellenic Energy Exchange.
The structure of the thesis is as follows:
The 1st chapter includes an introduction to the single European model of the market - Target Model, followed by a brief but comprehensive analysis of the wholesale electricity market paralleling, where it was necessary, the way the majority of the EU countries operate TM and how Greece currently works and is expected to operate under TM. Finally, the reasons that led us to study this particular issue and the problems we encountered in the development of the thesis.
The 2nd chapter provides a detailed analysis of the Day-Ahead Market, the method of calculating the Market Clearing Price, the factors that affect the price, the characteristics of the clearing value, and finally a concise inventory of the most significant differences between the System Marginal Price (S.M.P.) with the Market Clearing Price (M.C.P.) under T.M.
The 3rd chapter explains the steps taken to resolve the system of the clearance of the Day-Ahead Market, under T.M. We present the mathematical modeling of the social surplus optimization problem and analyze the assumptions used to "construct" the simulated data and experiment with the solution of the model.
In the 4th chapter we present the results obtained and compare our results with the results of the Hellenic Energy Exchange (HEnEx) in two days of January 2019. Finally, we introduced an additional restriction beyond the original modeling in order to compare the prices of Hellenic Energy Exchange with the clearance price that would eventually be formed in the market after operation and the market of Bilateral Contracts (B.C).
The 5th chapter summarizes the conclusions and proposes suggestions for later research.
Annex A provides additional information for a fuller understanding of the electricity market.
Annex B provides research documentation.
Main subject category:
Social, Political and Economic sciences
Keywords:
Target Model, Day –Ahead Market, Day-Ahead Price, Hellenic Energy Exchange S.A.
File:
File access is restricted only to the intranet of UoA.
ΔΕ.Ntasi.F.pdf
3 MB
File access is restricted only to the intranet of UoA.
