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dc.contributor.authorNewbery, Daviden
dc.contributor.authorStrbac, Goranen
dc.contributor.authorViehoff, Ivanen
dc.date.accessioned2016-07-20T14:18:21Z
dc.date.available2016-07-20T14:18:21Z
dc.date.issued2016-04-22en
dc.identifier.issn0301-4215
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/256794
dc.description.abstractThe European Commission's Target Electricity Model (TEM) aims to integrate EU electricity markets. This paper estimates the potential benefit of coupling interconnectors to increase the efficiency of trading day-ahead, intra-day and balancing services across borders. Further gains are possible by eliminating unscheduled flows and avoiding the curtailment of renewables with better market design. In the short run the gains could be as high as €3.9 billion/yr, more than 100% of the current gains from trade. About one-quarter of this total comes from day-ahead coupling and another third from shared balancing. If shared balancing is so valuable, completing the TEM becomes more urgent, and regulators should ensure these gains are paid to interconnectors to make the needed investment in the cross-border links more commercially profitable.
dc.description.sponsorshipThis paper builds on and extends work under contract ENER/B1/491-1/2012, published as Newbery et al. (2013).
dc.languageEnglishen
dc.language.isoenen
dc.publisherElsevier
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/en
dc.subjectelectricity market couplingen
dc.subjectinterconnectorsen
dc.subjectbalancingen
dc.subjectbenefitsen
dc.titleThe benefits of integrating European electricity marketsen
dc.typeArticle
dc.description.versionThis is the author accepted manuscript. The final version is available from Elsevier via http://dx.doi.org/10.1016/j.enpol.2016.03.047en
prism.endingPage263
prism.publicationDate2016en
prism.publicationNameEnergy Policyen
prism.startingPage253
prism.volume94en
dc.identifier.doi10.17863/CAM.731
dcterms.dateAccepted2016-03-30en
rioxxterms.versionofrecord10.1016/j.enpol.2016.03.047en
rioxxterms.versionAMen
rioxxterms.licenseref.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/en
rioxxterms.licenseref.startdate2016-04-22en
rioxxterms.typeJournal Article/Reviewen
pubs.funder-project-idUNIVERSITY OF STRATHCLYDE (FB EPSRC) (EP/I031650/1)
pubs.funder-project-idEPSRC (via Imperial College London) (EP/K002252/1)
rioxxterms.freetoread.startdate2017-04-22


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Attribution-NonCommercial-NoDerivatives 4.0 International
Except where otherwise noted, this item's licence is described as Attribution-NonCommercial-NoDerivatives 4.0 International