Demonstration 5: Wholesale Market Demonstration and Clearing

Problem statement:

How effective the intra-day market will be for flexibility products and how market participants will interact?

Objective:

To demonstrate the next generation of the FEG and the possibilities it enables for new marketplace and business models- including the electricity market structure of WP3 with the marketplace clearing algorithm developed in WP4 to handle both energy and flexibility products
To test and analyse the market design and extended algorithm in parallel with day-to-day operation
To present the concepts of new design and to give opportunity to the market players getting experience about it by participating in the demonstrating procedure with fictive results
To provide the opportunity for system operators (TSOs, DSOs) of FLEXITRANSTORE on testing the procurement of required flexibility (for balancing/control) in the new market framework.

Achievement:

Demo 5 has successfully created a platform architecture for market demonstration activities, with the main focus to increase liquidity of the intra-day market. A matching algorithm has been developed and an order book has been created to support testing activities. In addition, definition of demonstration modules and functionality specification of the planned parallel market has been finished.
Concrete testing will happen next years and demo 5 is inviting stakeholders to participate in the testing process and validating the solutions.
In collaboration of European Dynamics and Budapest University of Technology and Economics, a new electricity market platform has been developed to host the wholesale market demonstration of the FLEXITRANSTORE project. The platform has been prepared to suit needs of future market designs as well, such as trading with quarter-hourly products or exploiting the potential of special basket orders. Demonstration will be carried out on the Bulgarian and Cypriot systems, between May 2020 and February 2021."

FLEXITRANSTORE – the first Flexibility trading platform for Southeast Europe was presented to over 70 participants at the end of April. As a Bridge project you are invited to participate in our wholesale market demonstration, any period between May 2020 and March 2021. The demonstration runs a fictive intraday market in Bulgaria and Cyprus. RES producers can test how the cooperation of day-ahead and intraday markets better utilizes weather forecast data. Traders and aggregators decrease balancing energy needs using quarter-hourly products. Market operators can see how new order types improve liquidity and how they affect social welfare.

Flexibitlity trading platform