The Platform for the International Coordination of Automatic Frequency Restoration and Stable System Operation (PICASSO) is a project to establish the European platform for the exchange of balancing energy through the activation of automatic Frequency Restoration Reserves (aFRR). The aim of this market is to enhance the economic and technical efficiency of the European power grid security. Automatic Frequency Restoration Reserve controls the frequency towards its set point value and replaces the FCR (Frequency Containment Reserves) within 5 minutes. PICASSO involves the participation of numerous TSOs across Europe.
With close consultation of the PICASSO Expert Group, Artelys designed a price determination scheme for the PICASSO market clearing algorithm. Through Artelys’ experience and expertise on Europe’s balancing markets, the company provided quality analysis on the advantages and drawbacks on the various proposed pricing schemes; identified the pricing scheme that is best fit for purpose; carried out an impact assessment on the market of the scheme; and has delivered a detailed mathematical description of the selected algorithm.
TSOs participating in the PICASSO market
— Artelys Knitro 12.3 release significantly improves the robustness of its algorithms for general nonlinear models.
— A new version of Artelys Kalis is available! It comes with important improvements on allocation and scheduling problems!
— Knitro is now available for embedded systems running on ARM architectures and opens up to an even wider field of applications!