New H2020 project Magnitude to be kicked off soon
MAGNITUDE, H2020 project, addresses the challenge to rise flexibility in electricity systems, by increasing the synergies between electricity, heating/cooling and gas networks and associated systems. MAGNITUDE will bring technical solutions, market design and business models, to be integrated on ongoing policy discussions.
MAGNITUDE will define technological and operational means for maximising flexibility provision to the electricity network. It will identify the regulatory framework to bring such flexibility service to the energy markets and will provide enhanced market designs and related business mechanisms.
The project is built upon 7 real life case studies of multi energy systems, located in different European countries, under different regulatory and geopolitical environments and with different technological development levels. It will:
- Simulate the multi energy systems in the case studies and optimise their operation strategies maximising the provision of specific flexibility services.
- From existing regulations, propose improved market designs, and integrate them in a market simulation platform for evaluating its performance among the case study countries.
- Quantify the benefit of pooling flexibilities from decentralized multi energy systems for energy markets through an aggregation platform.
MAGNITUDE results will define policy strategies and recommendations in a pan-European perspective. Achievements will be spread among stakeholders to raise awareness and foster higher collaboration among the electricity, heating and gas sectors to achieve the common goal of a less carbon intensive, yet reliable energy system.
N-SIDE will be actively engaged in this 3.5 years project with other partners such as International utility, local utility, retailer, university, aggregator… N-SIDE main focus will be on new multi-energy markets, from design to algorithms and implementation of a market simulator.