The European Power Market Model (EPMM) is a unit commitment and economic dispatch model. Electricity consumption is satisfied simultaneously in all modelled countries at a minimum system cost, considering spinning reserve requirements, capacity constraints of the available power plants and cross-border transmission capacities. The cost elements considered in the model include start-up and shut-down costs of the power plants, the costs of production (mainly fuel and CO2 costs) and the costs which occur to RES producers in the form of curtailment.
The model simultaneously optimises all 168 hours of a modelled week, and as a result determines the hours in which power plants operate and at what production level. The model is executed for 12 representative weeks of the given year (each month is represented by one week). EPMM endogenously models 41 electricity markets in 38 countries across the ENTSO-E network.
INPUTS
- Fuel and CO2 costs
- Power plant technologies
- Interconnectors
COVERAGE AND GRANULARITY
- Spatial granularity: Country level
- Spatial coverage: ENTSO-E area
- Temporal granularity: hourly (168 representative hours)
OPTIMISATION LOGIC
- System cost minimisation
OUTPUTS
- Electricity generation by power plants
- Wholesale electricity price
MAIN USE
- Scenario based price estimation
- Infrastructure CBA
- Assessment of regulatory policy on power markets
