{"id":189130,"date":"2024-06-25T09:16:06","date_gmt":"2024-06-25T07:16:06","guid":{"rendered":"https:\/\/www.rse-web.it\/rapporti\/updating-mathematical-models-and-methodologies-for-the-simulation-of-energy-markets\/"},"modified":"2024-07-02T14:47:01","modified_gmt":"2024-07-02T12:47:01","slug":"updating-mathematical-models-and-methodologies-for-the-simulation-of-energy-markets","status":"publish","type":"rapporti","link":"https:\/\/www.rse-web.it\/en\/reports\/updating-mathematical-models-and-methodologies-for-the-simulation-of-energy-markets\/","title":{"rendered":"Updating mathematical models and methodologies for the simulation of energy markets"},"content":{"rendered":"<p class=\"last-updated-date\">Recently updated on July 2nd, 2024 at 02:47 pm<\/p>","protected":false},"excerpt":{"rendered":"<p>In order to analyze the transformation of energy markets and to support the transition, it is essential to have mathematical models that are always up-to-date and consistent with the innovative elements that characterize their evolution. The methodologies described deal with different aspects of energy markets: the ex-ante phase of the dispatch services market, the coordinated operation of the electricity and gas systems, and the modeling of the electricity market price in relation to the production variability of gas-fired generation plants.<\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"tags":[1310,1410,1325,1305,1457,1307],"targets":[1313,1317],"rapporti_tipologie":[762],"class_list":["post-189130","rapporti","type-rapporti","status-publish","hentry","tag-decarbonization","tag-electric-market","tag-electrical-system","tag-energy-efficiency-en","tag-market-simulation-en","tag-renewable-energy-en","targets-decision-makers","targets-research","rapporti_tipologie-report-en"],"acf":{"dont_show_hompage":true,"projects":{"ID":188407,"post_author":"93","post_date":"2024-06-13 15:10:16","post_date_gmt":"2024-06-13 13:10:16","post_content":"","post_title":"Regulatory support: market evolution; innovation in network design and management","post_excerpt":"The Project aims to study the regulation of the existing energy systems and the various proposals for its evolution, in order to assess its impact in terms of its effectiveness with respect to the objectives to be achieved, especially with a view to the decarbonization of the energy system itself.","post_status":"publish","comment_status":"open","ping_status":"closed","post_password":"","post_name":"regulatory-support-market-evolution-innovation-in-network-design-and-management","to_ping":"","pinged":"","post_modified":"2024-07-02 10:29:57","post_modified_gmt":"2024-07-02 08:29:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.rse-web.it\/progetti\/regulatory-support-market-evolution-innovation-in-network-design-and-management\/","menu_order":0,"post_type":"progetti","post_mime_type":"","comment_count":"0","filter":"raw"},"order_posts":"","dont_show_search":false,"related_posts":false,"show_on_slider":false,"single_post_data":{"titolo_spot":"","post_content":"<p>Achieving the 2030 decarbonization targets puts the focus on high penetration of renewable sources, the introduction of new technologies, and increased integration between the electricity and gas sectors, all of which will support the energy transition. This report describes mathematical models, new or updates to existing models in RSE, for simulating energy markets and integrated energy systems to support analyses of their evolution and operation.<\/p>\n<p>&nbsp;<\/p>\n<p>First, an update of the mathematical model of the ex-ante phase of the dispatch services market was carried out, based on the Residual Unit Commitment problem. The importance of this model is related to the increased level of uncertainty and volatility of residual demand as a result of the growth of generation from non-programmable renewable plants. This leads to increased criticality in managing flexibility services for the system in the scheduling phase and in real time. For this reason, having an up-to-date model that is consistent with Terna&#8217;s Grid Code is important and useful for different types of analysis.<\/p>\n<p>&nbsp;<\/p>\n<p>Next, the enrichments and modifications made to RSE&#8217;s integrated gas-electric simulator are explained. This tool has been developed to optimize the coordinated operation of the electricity and gas systems to ensure that electricity and gas demand is met at the lowest system cost, taking into account the major technical constraints of both systems. The purpose of the new version of the integrated simulator is to evaluate the optimal resource allocation of the integrated energy system, such that the system&#8217;s reserve requirements are met at the lowest overall cost.<\/p>\n<p>&nbsp;<\/p>\n<p>Finally, a methodology is described for simulating a future scenario at prices rather than costs, thus considering the supply strategies of operators. The continuing evolution of markets draws attention to the price of electricity related to marginal technologies, historically represented in Italy by gas-fired plants. The strong growth of renewables could change this balance, and consequently the market price. The methodology is based on the Day-Ahead Market simulator, which optimizes the market solution by prioritizing technologies with lower production costs. The methodology described here evolves this simulator by calculating the average annual price and its hourly curve, depending on the operation of gas-fired plants.<\/p>\n","link_estreno":false,"scarica_file":[{"download_option":"download","file_name":"Download Report","download":{"ID":186304,"id":186304,"title":"22014077","filename":"22014077.pdf","filesize":1105332,"url":"https:\/\/www.rse-web.it\/wp-content\/uploads\/2024\/02\/22014077.pdf","link":"https:\/\/www.rse-web.it\/en\/rapporti\/aggiornamento-dei-modelli-matematici-e-delle-metodologie-per-la-simulazione-dei-mercati-energetici\/attachment\/22014077\/","alt":"","author":"93","description":"","caption":"","name":"22014077","status":"inherit","uploaded_to":186303,"date":"2024-02-19 08:33:26","modified":"2024-02-19 08:33:26","menu_order":0,"mime_type":"application\/pdf","type":"application","subtype":"pdf","icon":"https:\/\/www.rse-web.it\/wp-includes\/images\/media\/document.png"}}],"button":{"text":"","link":""},"referente_group":false,"data_emissione":"2022-12-31","autori":"F. Dav\u00f2, D. Siface (RSE S.p.A.), I. Serra (Politecnico di Milano)","rapporto":"","rif_rse":"22014077"},"satellite_post_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Updating mathematical models and methodologies for the simulation of energy markets - RSE<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rse-web.it\/en\/reports\/updating-mathematical-models-and-methodologies-for-the-simulation-of-energy-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Updating mathematical models and methodologies for the simulation of energy markets - RSE\" \/>\n<meta property=\"og:description\" content=\"In order to analyze the transformation of energy markets and to support the transition, it is essential to have mathematical models that are always up-to-date and consistent with the innovative elements that characterize their evolution. 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