Summary:
The future power system must become increasingly flexible to accommodate the growing use of renewable energy sources. Flexibility will enable the power system to adapt to changing conditions, such as fluctuations in demand and supply, extreme weather events and grid outages. As energy demand continues to grow, integrated and scalable markets will be essential to support the transition to a low-carbon, sustainable energy future. Integrated markets allow for a greater degree of competition and efficient use of resources across a wider geographic area. Furthermore, scalable markets can accommodate the inclusion of new participants and technologies without disrupting the overall system, thereby ensuring that the market remains efficient over time.
In the light of this situation, the OneNet project aims to design efficient, integrated, and scalable markets enabling DSOs and TSOs to procure system services while offering seamless coordination between all the players within and across countries. Within the framework of markets, we define coordination as “all aspects related to processes between market actors”, and integration as “all aspects related to equal market access of technologies, flexible sources and market participants”. Integration and coordination of markets can bring various benefits such as maximization of welfare, increased reliability, operational security and stability, ensuring sufficient market liquidity and competition. The missing components needed to build integrated and fully coordinated markets can help policy makers and market participants to implement strategies to overcome the barriers and improve the functioning of markets. This would also help ensure that the market is developed in an inclusive, equitable and efficient manner. [...]
IIT Project: OneNet (OneNet)
Funding entity: European Commission. Horizon 2020 – Cooperation / Energy
Publication date: 31-03-2023
IIT-23-158I
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