Balancing energy price analysis

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Supervisor:
Sőrés Péter Márk
Department of Electric Power Engineering

This thesis describes modeling of balancing energy prices, the relevance of it was proposed by (the Hungarian transmission system operator) MAVIR on the subject of Electricity Balancing Guideline.

In the first third of the study I presented the necessary concepts and system of rules to understand the methodology of calculating balancing energy prices.

I described and applied modifications to the methodologies earlier and nowadays used by MAVIR to improve them. I reviewed the value of balancing energy prices, the distribution of balancing energy prices by histogram, the changes in the statistical characteristics and fulfillment of the requirement that all balancing responsible parties shall be financially responsible for their imbalances.

Finally, I developed a method of calculating balancing energy prices, which applies both single and dual pricing methodology moreover takes into account regulatory costs. The correlation between the balancing energy prices calculated by the methodology and the system imbalance has been set higher than MAVIR’s methodologies, which can be attributed to the consistent creation of the methodology. With regard to the financial performance obligation between the balancing responsible parties and the system operator, I have kept in mind the legal framework defined by the EB GL, as my declared aim was to develop a methodology that could be appropriate for determining balancing energy prices in the future.

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