Abstract
This paper studies the current balancing market designs from four exemplary European countries – namely Germany, the Netherlands, Sweden and Great Britain – in the framework of European market coordination. Cross-country comparison shows that current market designs are widely diverse and are driven by country-specific market environments. However, ongoing adaptions towards European cooperation and the challenges presented by increasing wind and solar power shares drive a tendency towards closer to real-time operation, resulting in market design changes such as finer product time resolution, shorter imbalance settlement periods and reduced gate closure times.
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