Support to the Energy Union vision of a new market design considering demand side flexibility
An open letter was signed by a wide range of actors from Europe's energy sector giving full support for the Energy Union action. The letter is targeted to the European Commission and it emphasises how flexible energy markets are essential to further energy policy in order to develop a new electricity market design.
The new Market Design Initiative aims to improve the functioning of the internal electricity market, optimizing the benefits for society while increasing shares of renewable energies.
One of the key elements in the process building the new electricity market design is flexibility. In order to ensure efficient integration of renewables into the grid, trading of electricity should be designed in such a way that suppliers, generators and consumers are able to trade electricity as close to real time as possible.
The current work being developed within IndustRE is expected to contribute with a better understanding of how flexible industrial demand (FID) can be combined with increasing share of variable renewable energy generation.
The ongoing work aims at identifying the possible business models which could be applied for the exploitation of FID in relation with variable renewable energy VRE. The regulatory impacts and market rules related to the proposed business models are also being analysed for each target country (Belgium, France, Germany, Italy, Spain and UK).
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