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FLEXITRANSTORE WP9 – Wholesale Market Demonstration and Clearing

WHEN:

23 April, 2020 14:00 - 15:30

WHERE:

https://global.gotomeeting.com/join/144201877

We would like to invite your company to participate in the wholesale market demonstration of the FLEXITRANSTORE Horizon2020 project. Through this demonstration the operation of an elaborated market design and an e-market platform, which will both be developed by FLEXITRANSTORE, will be presented, both for the market participants and the system operators. The demonstration will run a fictive intraday market in Bulgaria and in Cyprus, parallel to the current one. Our objective is to demonstrate the next generation of the Flexible Energy Grid and the possibilities it enables for new marketplace and business models, including new clearing that handles both energy and flexibility products.

During the demonstration, participants can test intraday market trading with quarter-hourly products and an extended palette of basket orders, which facilitate market involvement of energy storage and demand-side aggregation, and support optimisation for welfare maximum to reduce costs of all market players.

Participants:
• can adapt to new basket orders
• can learn how to adjust their bidding strategy to the accuracy of weather forecasts
• can test the reliability of their bidding strategy in case of extreme weather events

The demonstration is to be conducted between May 2020 and February 2021.
As a prominent pioneer in the energy transition, the participation of your company is crucial. You are strongly welcome to join force with us in this innovation action. We will be happy to exchange and disclose further detailed information with you and invite you to attend our webinar held on 23rd April from 14:00 CET

https://global.gotomeeting.com/join/144201877

 

 

FLEXITRANSTORE (An Integrated Platform for Increased FLEXIbility in smart TRANSmission grids with STORage Entities and large penetration of Renewable Energy Sources) aims to contribute to the evolution towards a pan-European transmission network with high flexibility and high interconnection levels. This will facilitate the transformation of the current energy production mix by hosting an increasing share of renewable energy sources. Novel smart grid technologies, control and storage methods and new market approaches will be developed, installed, demonstrated and tested introducing flexibility to the European power system.
FLEXITRANSTORE will promote increased cross-border electricity flows using the valorization of flexibility services. The project takes both a national and a regional approach, acknowledging the need to seamlessly integrate national markets, particularly in the South Eastern European network, which still lacks the high interconnectivity that the rest of the European network has.
The FLEXITRANSTORE project is in line with the ETIP-SNET 10 year R&I Roadmap and the ENTSO-E R&I Roadmap 2017-2026, which identify the main evolutions of the power systems in the decades to come. These evolutions include an ever-increasing penetration of Distributed Renewable Sources and controllable Distributed Loads. The objectives of FLEXITRANSTORE are complementary to the R&I Roadmaps and will impact both new and existing market participants. FLEXITRANSTORE will provide the necessary technical and market advancements to facilitate the safe and seamless transition towards this new era.


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