Figure 1 - uploaded by Evdokia Kaffe
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A simplified model of a liberalized power system. Three areas interconnected system with loads, generators and transmission lines. Production companies are allowed to own power plants in any area in order to maximize their profits.
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Overview The effort to integrate the national and regional power markets of Europe, i.e. NordPool, APX, EEX, EXAA, OMEL etc., into one unified European power market has intensified lately. However, regulation and congestion treatment differences inside Europe combined with constantly increasing electricity demand make it more difficult to achieve s...
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... by any energy carrier available. The ultimate goal is, under strong coordination of all market participants, profit maximization for all generation companies and customers. At the same time, satisfaction of reliability and quality standards by the transmission grid is required. Such a liberalized power system could have the form presented in Fig. 1. The system consists of areas with nodes where both generators and loads exist. Generating companies are allowed to operate in all areas and consumers have the option to choose who they get their power from according to the monitored in-feed ...
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