Energy Transition: the impact of renewable energy and digitalization.
The increase of renewables during the last few years has changed the energy market landscape and consumer behavior.
Our electricity system is at the transition from a centralized approach with large conventional power plants to a new system composed of decentralized units based on renewable energy. As these units are variable and uncertain in terms of production levels, the impact on the electricity system (e.g supply demand balance, congestion risk, adequacy…) becomes a real challenge!
New ways of optimizing market cooperation and grid operations are now essential to ensure sustainability and reliability as well as improving social welfare. Digitalization of market/system operators and therefore the greater availability of data is a real opportunity to reach a successful Energy Transition.
The best of advanced analytics for your electricity market.
N-SIDE, as a key actor in the Energy market and expert in advanced analytics, has developed a range of algorithms to contribute to a better integration of electricity markets (Day-ahead, Intraday, Balancing, Reserve) at different dimensions:
Horizontal Integration – By the coupling of national markets at the European level. EUPHEMIA, developed by N-SIDE, is the official coupling algorithm for the European day-ahead markets, determining the spot prices and volumes for 25 countries.
Vertical Integration – By the optimization of energy and ancillary service markets at the global and local levels. N-SIDE algorithms leverage the flexibilities of DERs (Distributed Energy Resources) and allows an optimal coordination between TSOs and DSOs.
Transversal Integration – By the development of optimal cooperation between electricity, gas and heat systems thanks to integrated markets and bidding strategies.
In order to develop such algorithms taking into account all market constraints,
N-SIDE is using different types of advanced analytics:
Develop cutting-edge optimization algorithms to solve large-scale (multi-countries), non-linear (complex network representation, complex market rules), non-Convex (complex market products) problems in limited amount of time.
Forecast ancillary services needs for different timeframes and the associated bidding strategy.
Represent in an accurate and tractable way the different grid constraints at the cross-border, transmission and distribution levels.
Represent different grid constraints in a accurate and tractable way: ATC, Flow-based, Non-linear convex models (SOCP, SDP)
Define different bidding approach: explicit or emplicit bidding (price based control)
Market product model
Model different types of market products: hourly curves, block orders, exclusive orders, complex orders, etc
Develop different price determination mechanisms: pay as clear, pays as bid, non-uniform pricing, etc
Smarter electricity market for a competitive Energy Transition!
Optimize price setting and bid acceptance at maximum social welfare value
Optimize procurement and activation of ancillary services at minimal cost
Plan raw material procurement for cost-effective blending and low inventory
Optimize coordination between TSO and DSO grid operations
M€ average daily value of matched trades
EU countries computing Day-Ahead electricity prices with Euphemia
minutes to solve European-wide market coupling problems