The power system is undergoing a transformation towards a more decentralized architecture, with the emergence of local markets for energy and services. In local markets for system services, distributed energy resources offer their availability to participate in the power system operation by adapting their electricity exchange accordingly. A number of services and products have been devised to satisfy the different system operation needs. However, as these local markets are relatively new, there is no historical information available on participants' behaviour and product pricing. This thesis aims to address this gap by analysing the data available on the flexibility markets. The correlations existing between the price and the characteristics of the products will be studied. The differences among different market areas and technologies participating will be highlighted. The thesis will also identify gaps and distortions in the existing local market mechanisms and provide recommendations for overcoming them.
Javier Elechiguerra Batlle
