Abbasy, A; R.A.C. van der Veen; R.A. Hakvoort: Timing of Markets- the Key Variable in Design of Ancillary Service Markets for Power Reserves, pp. 1-14. In: Proceedings of the 33st IAEE International Conference, The Future of Energy: Global Challenges, Diverse Solutions, 6-9 June (2010). At: Rio de Janeiro, Brazil.
Proper design of ancillary service markets for power reserves, which are used as the means to insure system security and to balance generation and consumption in real time (also known as balancing services), is a complex task regarding the variables in design of these markets and high interrelations of these markets with other electricity markets. This paper concentrates on timing of these markets as a decisive and widely overlooked variable in design of balancing services markets. The case of Germany is studied as the main case and the market in the Netherlands is used for comparison. The focus of the study is on the secondary control markets (both reserve capacity and balancing energy) and we study the influence of alternative settings regarding timing of these markets on performance of the market as a whole analyzing the bid prices, excess supply ratios, pivotal supplier tests, and imbalance volumes.