Don't forget flexibility contracts when redesigning short-term electricity markets
证明，当灵活性市场完备时，顺序清算的电力市场能提供与集中调度系统相当的预见性收益，并通过双边合同模型确保灵活容量，支持欧洲电力市场设计。
This paper demonstrates that sequentially cleared electricity markets may provide look-ahead benefits equivalent to what is seen in centrally dispatched systems when the market for flexibility is complete. Power systems that use sequentially cleared auctions for short-term operations might suffer from resource waste because of insufficient look-ahead to unexpected (high or low) renewable-based generation in real-time, which leads to dispatches that are costly to change. We formulate the flexibility market as bilateral contracts, which ensure sufficient flexible capacity at the first-stage market phase and adhere to sequential clearing. Such contracts are arranged so that surplus or deficit renewable generation is physically fully compensated by a flexible generator. Our findings contribute to the electricity market design debate and support the current design of European electricity markets. • Sequentially cleared markets show look-ahead benefits when flexibility is complete. • The look-ahead benefit is similar to what is obtained using an integrated dispatch. • We model complete flexibility through bilateral contracts among market participants. • Our design addresses limitations such as producers' cost recovery in all scenarios. • And is proven to be at least as cost-efficient as the integrated dispatch benchmark.