Modelling An Integrated Northern European Regulating Power Market Based On A Common Day-Ahead Market

Abstract

With an increasing share of wind power productionin the northern European countries and as a consequencethereof increasing need of regulating resources an integrationof the northern European regulating power market can be socioeconomicbeneficial, especially regarding to the good regulatingcapabilities provided by the Nordic hydro power productionbasedsystem. After the successful integration of day-aheadmarkets, being the basis for the regulating markets, their is thenext aspired step.In this paper an integrated northern European regulatingpower market is modelled, being based on a common dayaheadmarket. Different cases of regulating market integrationare studied in order to estimate a possible socio-economicbenefit of exchanging regulating resources between the northerncontinental European and the Nordic system.