European balancing cooperation platform TERRE yields significant benefits
TERRE is the Trans European Replacement Reserve Exchange implementation project for the exchange of Replacement Reserves (RR) across TSOs in line with the Electricity Balancing Guideline. Artelys, after having contributed to the specification of the market’s design, has implemented the market clearing engine and its market coupling optimization algorithm, and is now in charge of its 24/7 maintenance.
The platform is live since January 2020 with more and more TSOs joining. Since January 2021, the coupled market is now live for 6 TSOs: REE, REN, Swissgrid, RTE, Terna and CEPS.
Figure 1: TERRE members (as of June 2022). Source: ENTSO-E.
In its most recent Balancing Report, ENTSO-E illustrates the important benefits of TSOs cooperation by comparing the social welfare obtained on TERRE platform with and without TSO cooperation. The comparison estimates the cooperation benefit to reach nearly €500M on the period from March to December 2021.
Artelys is proud to contribute via the provision of the state-of-the-art market clearing engine that enables TSOs to exchange balancing energy and performs hourly market clearings. The performance and the robustness of the algorithm has been proven with more than 50,000 delivery periods successfully cleared by the engine so far!
Figure 2: RR platform comparison of social welfare final vs decoupled social welfare differential (EUR). Source: ENTSO-E Balancing Report 2022 (page 30).
Artelys continues to expand internationally
With over 20 years of experience in mathematical optimization, Artelys offers a wide range of advanced components to adapt to your most complex challenges on an international scale.
Analysis of the environmental impact of renewable energies
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Join us at the METIS 3 dissemination event organized by Artelys!
— Artelys is thrilled to invite you to the METIS 3 Dissemination Event taking place on 17 April. During this online event, we will present the latest results of the METIS project and discuss the benefits of using advanced multi-energy modelling solutions such as METIS for energy and climate policymaking.
Artelys Knitro 14: new release of our nonlinear optimization solver
— We are pleased to announce that Artelys Knitro 14.0 is now available! This new version enables compagnies to solve complex non-linear optimization problems with unprecedented efficency and precision.
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