Multimarket modelling - Application of different models to HydroCen Low Emission scenario

Abstract

This report documents the work done in task 1 of WP3 in HydroCen on multimarket price modelling. The focus of the work has been to simulate spot prices and prices for procurement of reserve capacity using different modelling tools and functionality. We will in this report describe the differences between the models and func-tionality that have been used, compare price results and discuss challenges in this study and for future work on this topic. All the models and functionality used in this project are developed and maintained by SINTEF. The results illustrate the complexity in forecasting prices for procuring reserve capacity and the impact on spot prices. Furthermore, we find that the PriMod models provide good estimates for prices of providing reserves, while the EMPS functionality not performed that well on our test cases. The report documents nicely how SIN-TEFs models can be used together and highlights some important experiences to consider when conducting studies like this.