A REVIEW OF THE EUROPEAN ELECTRICITY MARKET

Authors

DOI:

https://doi.org/10.30890/2709-2313.2025-40-02-003

Keywords:

electricity market design, electricity markets, power markets, European electricity market model, electricity market mechanisms

Abstract

The European electricity market model is evolving amid ongoing challenges. This systematic literature review assesses current research on the model and its mechanisms, as well as the modelling tools used to analyze or propose changes. While various challe

Metrics

Metrics Loading ...

References

Siala, K. Mier, M. Schmidt, L. Torralba-Díaz, L. Sheykhha, S. Savvidis, G. Which model features matter? An experimental approach to evaluate power market modeling choices. Energy 2022, 245, 123301.

Cramton, P. Electricity market design. Oxf. Rev. Econ. Policy 2017, 33, 589–612 p.

Wolak, F.A. Wholesale electricity market design. In Handbook on Electricity Markets; Edward Elgar Publishing: Cheltenham, UK, 2021.

Ambrosius, M. Egerer, J. Grimm, V. van der Weijde, A. Uncertain bidding zone configurations: The role of expectations for transmission and generation capacity expansion. Eur. J. Oper. Res. 2020, 285, 343–359.

Pfenninger, S. Hawkes, A. Keirstead, J. Energy systems modeling for twenty-first century energy challenges. Renew. Sustain. Energy Rev. 2014, 33, 74–86.

Keles, D. Bublitz, A. Zimmermann, F. Genoese, M. Fichtner, W. Analysis of design options for the electricity market: The German case. Appl. Energy 2016, 183, 884–901.

Hach, D. Chyong, C.K. Spinler, S. Capacity market design options: A dynamic capacity investment model and a GB case study. Eur. J. Oper. Res. 2016, 249, 691–705.

Rahmati, I. Akbari Foroud, A. An equilibrium-based model to investigate market performance of power-based electricity market. IET Gener. Transm. Distrib. 2022, 16, 2425–2440.

Philipsen, R. Morales-España, G. de Weerdt, M. de Vries, L. Trading power instead of energy in day-ahead electricity markets. Appl. Energy 2019, 233–234, 802–815.

Published

2025-05-30

How to Cite

Mysak, I., & Mysak, P. (2025). A REVIEW OF THE EUROPEAN ELECTRICITY MARKET. European Science, 2(sge40-02), 32–42. https://doi.org/10.30890/2709-2313.2025-40-02-003