Economic analysis of the increase in number of intraday market sessions in the iberian market

Abstract

This project aims to assess the economic impact on thermal plants with outages due to a forecasted increase of the number of sessions of the intraday market, from the current six to twenty-four, one every hour. In order to estimate the economic impact, it has been needed to quantify the current cost of the adjustment services, such as the tertiary regulation, secondary regulation and deviation management, used to correct the current deviations. In addition, it is necessary to infer the behavior of agents, i.e, why they operate as they do under the current model. An estimation of volumes traded under the new model was obtained, as well as prices, both from intraday operations and adjustment services. A reasonable estimation of the savings for thermal units with the new model was obtained.