Market4RES- Post-2020 framework for a liberalised electricity market with a large share of Renewable Energy Sources - investigates the potential evolution of the Target Model (TM) for the integration of EU electricity markets that will enable a sustainable, functioning and secure power system with large amounts of renewables.
In April 2014, the IEE-funded project Market4RES started investigating the potential evolution of the EU Target Model necessary to secure the European power system decarbonisation with large amounts of renewables.
With a focus on wholesale market design, Market4RES will identify and recommend steps for the implementation of policy, legislation and regulation across the different timeframes of energy markets. One key objective is the facilitation of dialogue amongst relevant stakeholders on which steps towards the most economically sustainable market design should be taken.
The EU Target Model for electricity market integration is expected to be fully implemented at pan-European level by 2015. It will include day-ahead price coupling, cross-border intraday continuous trading and long-term cross-border capacity allocation with harmonised rules. The TM is based on the principle of energy-only national markets interlinked through efficient mechanisms designed to take advantage of the complementarity of the different generation assets in Europe with the only limitation to cross-border trade being congestion constraints.
During the implementation of the Target Model, the share of variable renewable electricity (RES-E) will increase following the 2020 renewable energy and emission reduction targets. The Market4RES project aims to contribute to an open and transparent debate on how to best integrate these energy sources in the power system in a market-based way.
In particular, the project aims to:
- Contribute to an open and transparent debate on the potential evolution of the EU Target Model after 2020.
- Identify and recommend steps for the implementation of policy, legislation and regulation across the renewable energy sectors.
- Identify and recommend concrete steps so relevant market actors can accept and adopt the main results of the project.
The consortium consists of leading European research institutes, system operators, and wind and solar industry. Contact: Andrei Morch, Research Scientist, Market4RES@sintef.no