Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration

The development and regional integration of the balancing markets is expected to enhance the use and reduce costs of frequency support services. This is becoming increasingly important as the exploitation of variable renewable energy sources (RES) for electricity generation leads to higher balancing...

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Autores principales:	Petar Krstevski, Stefan Borozan, Aleksandra Krkoleva Mateska
Formato:	article
Lenguaje:	EN
Publicado:	Elsevier 2021
Materias:	Balancing markets Regional market integration Electricity production from variable renewable energy sources Balancing service providers South East Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971
Acceso en línea:	https://doaj.org/article/2c185c6b043d4cd08563e227c5c40adf
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spelling	oai:doaj.org-article:2c185c6b043d4cd08563e227c5c40adf2021-11-28T04:33:46ZElectricity balancing markets in South East Europe — Investigation of the level of development and regional integration2352-484710.1016/j.egyr.2021.05.082https://doaj.org/article/2c185c6b043d4cd08563e227c5c40adf2021-11-01T00:00:00Zhttp://www.sciencedirect.com/science/article/pii/S2352484721003796https://doaj.org/toc/2352-4847The development and regional integration of the balancing markets is expected to enhance the use and reduce costs of frequency support services. This is becoming increasingly important as the exploitation of variable renewable energy sources (RES) for electricity generation leads to higher balancing costs.The aim of this paper is to analyse the current state of the legislation related to balancing markets as well as balancing practices in the region of South East Europe (SEE), identify the main barriers, and propose recommendations for development and regional integration of the balancing markets. The investigation was conducted in close cooperation with the Transmission System Operators (TSOs) from eight countries in SEE that are responsible for establishment and operation of the balancing markets in these countries. It consists of six segments addressing various elements of the electricity balancing markets implementation, current practices of reserves/balancing energy procurement, pricing and settlement, as well as the anticipated near future developments. Such a scope of research is unique in the related literature, as most analyses are related to the situation either to EU member states or to Western Balkan (WB) countries. Namely, the region of SEE is distinctive because it is consisted of both EU and non-EU countries. This region faces many challenges in the development of the wholesale electricity and balancing markets and their regional integration.An important conclusion of this research is that low competition and secondary legislation protecting national resources are major obstacles to progress. The creation of a regional balancing market could facilitate competition and allow the creation of real market prices, which in turn would incentivize investment in RES and advanced technologies.Petar KrstevskiStefan BorozanAleksandra Krkoleva MateskaElsevierarticleBalancing marketsRegional market integrationElectricity production from variable renewable energy sourcesBalancing service providersSouth East EuropeElectrical engineering. Electronics. Nuclear engineeringTK1-9971ENEnergy Reports, Vol 7, Iss , Pp 7955-7966 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Balancing markets Regional market integration Electricity production from variable renewable energy sources Balancing service providers South East Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971
spellingShingle	Balancing markets Regional market integration Electricity production from variable renewable energy sources Balancing service providers South East Europe Electrical engineering. Electronics. Nuclear engineering TK1-9971 Petar Krstevski Stefan Borozan Aleksandra Krkoleva Mateska Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
description	The development and regional integration of the balancing markets is expected to enhance the use and reduce costs of frequency support services. This is becoming increasingly important as the exploitation of variable renewable energy sources (RES) for electricity generation leads to higher balancing costs.The aim of this paper is to analyse the current state of the legislation related to balancing markets as well as balancing practices in the region of South East Europe (SEE), identify the main barriers, and propose recommendations for development and regional integration of the balancing markets. The investigation was conducted in close cooperation with the Transmission System Operators (TSOs) from eight countries in SEE that are responsible for establishment and operation of the balancing markets in these countries. It consists of six segments addressing various elements of the electricity balancing markets implementation, current practices of reserves/balancing energy procurement, pricing and settlement, as well as the anticipated near future developments. Such a scope of research is unique in the related literature, as most analyses are related to the situation either to EU member states or to Western Balkan (WB) countries. Namely, the region of SEE is distinctive because it is consisted of both EU and non-EU countries. This region faces many challenges in the development of the wholesale electricity and balancing markets and their regional integration.An important conclusion of this research is that low competition and secondary legislation protecting national resources are major obstacles to progress. The creation of a regional balancing market could facilitate competition and allow the creation of real market prices, which in turn would incentivize investment in RES and advanced technologies.
format	article
author	Petar Krstevski Stefan Borozan Aleksandra Krkoleva Mateska
author_facet	Petar Krstevski Stefan Borozan Aleksandra Krkoleva Mateska
author_sort	Petar Krstevski
title	Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
title_short	Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
title_full	Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
title_fullStr	Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
title_full_unstemmed	Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration
title_sort	electricity balancing markets in south east europe — investigation of the level of development and regional integration
publisher	Elsevier
publishDate	2021
url	https://doaj.org/article/2c185c6b043d4cd08563e227c5c40adf
work_keys_str_mv	AT petarkrstevski electricitybalancingmarketsinsoutheasteuropeinvestigationofthelevelofdevelopmentandregionalintegration AT stefanborozan electricitybalancingmarketsinsoutheasteuropeinvestigationofthelevelofdevelopmentandregionalintegration AT aleksandrakrkolevamateska electricitybalancingmarketsinsoutheasteuropeinvestigationofthelevelofdevelopmentandregionalintegration
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Electricity balancing markets in South East Europe — Investigation of the level of development and regional integration

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