Integrating large quantities of variable renewable electricity generation remains a political and operational challenge. One of the main obstacles in Europe to installing at least 200 GWs of power from variable renewable sources is how to deal with the insufficient network capacity and the...

Deterministic capacity planning problems in electricity systems can be solved by comparing technology specific long-term and short-term marginal costs. In an uncertain market environment, Mean-Variance Portfolio (MVP) theory provides a consistent framework to balance risk and return in power...

Power systems with high shares of wind and solar power have to balance their intermittent nature. Pumped-hydro storage plants can provide the required flexibility, while thermal backup plants offer an alternative. This paper proposes a capacity planning model to describe the efficient technology...

This paper models the interdependencies between markets for secondary reserve capacity and spot electricity to derive the pricing of reserves under equilibrium conditions. Starting with the indifference condition between offering in both markets, the reservation price is derived from the...

Demand side management has been proposed as one cornerstone for a future sustainable energy system. Local pricing may contribute to enable a smart behaviour of grid users by providing appropriate incentives. In this paper, we apply a local pricing algorithm on distribution grid level. We analyse...