Work

Imbalance Settlement and Multi-Product Balancing Energy Markets

Year: 2025

Type: article

Abstract: This paper provides a framework for analyzing the interaction of imbalance settlement and the strategy of system operators for activating reserves on the clearing of multi-product real-time energy markets. We characterize the optimal strategies of price-taking flexibility providers that can participate in sequential auctions conducted by the system operator to activate automatic and manual frequency restoration reserves. Combinations of imbalance settlement schemes and activation strategies are assessed based on their influence on bidding incentives and cost efficiency.

Source: IEEE Transactions on Energy Markets Policy and Regulation

DOI: 10.1109/tempr.2025.3605808

Authors: Jacques Cartuyvels, Gilles Bertrand, Alexandros Visas, Anthony Papavasiliou

Institutions: UCLouvain, National Technical University of Athens

Language: English

Topic: Electric Power System Optimization

Subfield: Electrical and Electronic Engineering

Field: Engineering

Domain: Physical Sciences

SDG: Affordable and clean energy

Open Access status: hybrid

Estimated APC paid: $2,645