Cross-border interconnections : influence in the Spanish market price
Resumen
Cross-border interconnections represent a key infrastructure for the achievement of a
common European energy market which ensures a fair price for consumers. Renewable
sources also benefit from these infrastructures as enables the transmission of the locally
generated energy to high demand areas. Additionally, new interconnections reinforce the
security of supply of the system by the increase of the transmission capacity among regions.
This thesis analyses the effect of the interconnection capacity increase between Spain and
France in the Spanish day-ahead market by an econometric model. It pays special attention
to the recently established interconnection between Santa Llogaia and Baixas on October 5,
2015, which increased the interconnection capacity between both countries, from 1400MW
up to values close to 2800MW. Therefore, the effect on the market price as well as the
market coupling and congestion periods is also studied.
It has been observed a decrease in the Spanish market price of 3,54 e/MWh since the
establishment of this infrastructure. The market coupling periods have increased from
from 10,08% to 26,36%. Regarding to the cross-border congestions, it has been observed a
reduction by 24,24% in the importing direction. However, it has been increased the number
of congestion hours in the exporting direction by 26,87%, probably due to the unavailability
of several French nuclear power plants during 2016.
Based on the results depicted by the econometric model, it has been concluded that the
new interconnection "Santa Llogaia-Baixas" could have contributed to increase the market
coupling between France and Spain and reduced the cross-border congestions. Moreover,
the Spanish prices has been reduced due to the increasing energy imports from France.
Trabajo Fin de Máster
Cross-border interconnections : influence in the Spanish market priceTitulación / Programa
Master in the Electric Power IndustryMaterias/ UNESCO
33 Ciencias tecnológicas3322 Tecnología energética
332201 Distribución de energía
332204 Transmisión de energía
332205 Fuentes no convencionales de energía
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