Special session on proposal of a new European co-optimized energy and ancillary service market design - part II - mathematical model, case study and prototype

A new market design is proposed which employs a joint day-ahead trading platform for energy and security reserves; its main purpose is to address the growing European difficulties in the procurement of ancillary services. This paper is the second part of the proposal's synthesis. The outline of the mathematical programming model is followed by the general description of the developed prototype software for market operation. The overview of the investigated case studies is also presented with emphasis on current trends in the power system.