Abstract
The integration of the spot electricity markets in Europe shall lead to multi-area power exchanges that will substitute the local markets. In view of the “target model” that will be enforced in all European markets and the forthcoming coupling/integration of the Greek with the Italian electricity market, a volume-based market coupling between a power exchange (PX) and a power pool is implemented in this paper. The pros and cons of this approach are quantified, and the attained results are compared with the results of a single market splitting approach, in terms of pricing, overall social welfare and computational time.
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