20th International Conference on the European Energy Market - EEM24, Istanbul (Turkey). 10-12 June 2024
Summary:
The member states of the European Union (EU) are actively reassessing their National Energy and Climate Plans (NECPs) [1] to jointly address climate challenges and the impacts of the COVID pandemic and gas supply crisis. This study extends the analyses described in [2] by assessing the impact of the updated NECP drafts for Portugal and Spain [3], [4] on the Iberian Electricity Market (MIBEL). For this, we use CEVESA, a market model for the long-term planning and operation of MIBEL that computes the joint dispatch of energy and secondary reserve of the two interconnected single-price zones. Departing from the expected evolution of the electricity generation technologies and demand available in the NECP drafts, joint scenarios for Portugal and Spain are built with the latest CO2 allowances and fuel prices projections and the latest available historical data of hydro and renewable generation profiles. Simulations provide estimates for the expected market prices, technology generation dispatch, and the usage of the capacity of the interconnection lines between both countries, highlighting potential concerns and knowledge on future NECPs.
Spanish layman's summary:
Los estados de la UE revisaron los PNEC por desafíos climáticos, el COVID-19 y la crisis de gas. Este estudio analiza los PNEC de Portugal y España con el modelo CEVESA.
English layman's summary:
EU member states are reassessing their National Energy and Climate Plans (NECPs) to address climate challenges, COVID-19 impacts, and the gas supply crisis. This study evaluates updated NECP drafts for Portugal and Spain on the Iberian Electricity Market (MIBEL) using the CEVESA model.
Keywords: electricity prices, interconnections, market model, national energy and climate plans, MIBEL
DOI: 
https://doi.org/10.1109/EEM60825.2024.10608866
Published in IEEE EEM 2024, pp: 1-6, ISBN: 979-8-3503-8175-7
Publication date: 2024-08-08.
Citation:
A. Rodrigues de Oliveira, F.A. Campos, J. Villar, S. Doménech, J. Peças, J.P. Tomé Saraiva, Analysis of the Portuguese and Spanish NECPs using the CEVESA MIBEL market model, 20th International Conference on the European Energy Market - EEM24, Istanbul (Turkey). 10-12 June 2024. In: IEEE EEM 2024: Conference proceedings, ISBN: 979-8-3503-8175-7
