Day-ahead and intraday electricity markets in various market areas
Ghanadi, Mina (2020)
2020
Master's Programme in Electrical Engineering
Informaatioteknologian ja viestinnän tiedekunta - Faculty of Information Technology and Communication Sciences
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Hyväksymispäivämäärä
2020-11-24
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:tuni-202011127922
https://urn.fi/URN:NBN:fi:tuni-202011127922
Tiivistelmä
Increasing the usage of renewable resources makes the electricity market important in all countries. Day-ahead and intraday electricity markets play an important role in the electricity market all over the world. Trading on day-ahead markets happens on one whole day before real-time and all participants in the market buy and sell by relying on their estimations on this market. They have the ability to correct their transactions on the intraday market which closure time is just one hour before real-time.
In this thesis, intraday and day-ahead electricity markets in Nordic countries, Germany, United Kingdom, Australia, and the USA have been studied. Various viewpoints of these two markets in selected countries are pursued. Introducing definitions, the impact of the type of electricity generation, energy storage, and demand response have been studied on the electricity market in each country. Extracting day-ahead prices and electricity generation and production from August 2019 to August 2020 is studied in this thesis. Comparing day-ahead electricity prices in all selected countries in one year from August 2019 to August 2020 has done. Intraday electricity market prices have been extracted for July for Nordic countries and Germany.
After the study on the day-ahead and intraday electricity market, it is realized that a lack of balance between supply and demand is one of the factors that affect electricity prices in both intraday and day-ahead prices. Importing electricity from adjacent countries enhance day-ahead and intraday prices. A high share of hydropower generation causes smoothness and reduction in short term prices in both day-ahead and intraday markets. A high proportion of wind generation boosts intermittency in both electricity production and market prices. Increasing usage of renewable energies decreases average day-ahead prices in all selected countries from August 2019 to August 2020. It is also concluded that day-ahead and intraday electricity prices are relevant to each other but intraday prices mainly have higher values with more fluctuation.
In this thesis, intraday and day-ahead electricity markets in Nordic countries, Germany, United Kingdom, Australia, and the USA have been studied. Various viewpoints of these two markets in selected countries are pursued. Introducing definitions, the impact of the type of electricity generation, energy storage, and demand response have been studied on the electricity market in each country. Extracting day-ahead prices and electricity generation and production from August 2019 to August 2020 is studied in this thesis. Comparing day-ahead electricity prices in all selected countries in one year from August 2019 to August 2020 has done. Intraday electricity market prices have been extracted for July for Nordic countries and Germany.
After the study on the day-ahead and intraday electricity market, it is realized that a lack of balance between supply and demand is one of the factors that affect electricity prices in both intraday and day-ahead prices. Importing electricity from adjacent countries enhance day-ahead and intraday prices. A high share of hydropower generation causes smoothness and reduction in short term prices in both day-ahead and intraday markets. A high proportion of wind generation boosts intermittency in both electricity production and market prices. Increasing usage of renewable energies decreases average day-ahead prices in all selected countries from August 2019 to August 2020. It is also concluded that day-ahead and intraday electricity prices are relevant to each other but intraday prices mainly have higher values with more fluctuation.