M3 Applications on the Electricity Markets

  • Mariusz Kaleta
  • Przemysław Kacprzak
  • Kamil Smolira
  • Eugeniusz Toczyłowski
Chapter
Part of the Advances in Intelligent and Soft Computing book series (AINSC, volume 121)

Abstract

The electrical energy markets illustrate very well complexity of the infrastructure markets. Achieving the market balance, while maintaining its high efficiency, is a challenging task which requires both a rich commodities structure and a complex structure of the market processes. Market balancing is being obtained by multi-step processes of the multi-commodity trade. In this chapter we show that the fulfillment of various specific electricity market requirements is possible by applying model M3 . We focus on the balancing segment of the market and present relations and mappings between various concepts of a real balancing market and notions of M3 . We discuss some potential ways of market development to demonstrate how M3 notions facilitate modeling of the new solutions.

Keywords

Electricity Market Virtual Node Market Process Market Design Infrastructure Element 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag GmbH Berlin Heidelberg 2012

Authors and Affiliations

  • Mariusz Kaleta
    • 1
  • Przemysław Kacprzak
    • 1
  • Kamil Smolira
    • 1
  • Eugeniusz Toczyłowski
    • 1
  1. 1.Institute of Control and Computation EngineeringWarsaw University of TechnologyWarsawPoland

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