Empirical Analysis of the Aggregate Offers to Buy or Sell Electricity on the French Day Ahead Market from to
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Niveau: Supérieur, Doctorat, Bac+8
Paper for IAEE 9th European Conference in Florence 10-12 June 2007 Empirical Analysis of the Aggregate Offers to Buy or Sell Electricity on the French Day-Ahead Market from 2002 to 2005 Margaret Armstrong & Alain Galli Cerna, Ecole des Mines de Paris 60 Bvd Saint-Michel, 75272 Paris, France Abstract This paper presents an empirical analysis of the aggregated offers to buy and sell electricity on the French bourse, Powernext, from 2002 to mid 2005; that is from soon after its creation in November 2001 and ends before the coupling of the French, Belgian and Dutch markets in 2006. We show how these curves have evolved over this time, especially during difficult periods such as the March 2005 cold snap when the supply barely exceeds the demand. A detailed analysis highlighted the importance of three parameters: the maximum volumes offered for sale and for purchase (SVolmax and BVolmax) together with the volume actually traded (denoted by Volume). The day-ahead price is quite well correlated with the ratios BVolmax/SVolmax ; the ratio SVolmax/Volume gives a good indication of the stress level seen by the market. In addition we have studied the impact of virtual power plants, VPP, on the aggregated curves and hence the day-ahead prices.
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Paper for IAEE 9th European Conference in Florence 10-12 June 2007 Empirical Analysis of the Aggregate Offers to Buy or Sell Electricity on the French Day-Ahead Market from 2002 to 2005 Margaret Armstrong & Alain Galli Cerna, Ecole des Mines de Paris 60 Bvd Saint-Michel, 75272 Paris, France Abstract This paper presents an empirical analysis of the aggregated offers to buy and sell electricity on the French bourse, Powernext, from 2002 to mid 2005; that is from soon after its creation in November 2001 and ends before the coupling of the French, Belgian and Dutch markets in 2006. We show how these curves have evolved over this time, especially during difficult periods such as the March 2005 cold snap when the supply barely exceeds the demand. A detailed analysis highlighted the importance of three parameters: the maximum volumes offered for sale and for purchase (SVolmax and BVolmax) together with the volume actually traded (denoted by Volume). The day-ahead price is quite well correlated with the ratios BVolmax/SVolmax ; the ratio SVolmax/Volume gives a good indication of the stress level seen by the market. In addition we have studied the impact of virtual power plants, VPP, on the aggregated curves and hence the day-ahead prices.
- fixing prices
- western european
- market power
- energy markets
- market
- national markets
- plant
- demand increases
- capacity available
- ratio bvolmax
