From M1-M18, technical procedures were prepared and data gathering planned for a successful implementation of the workplan. A characterization of the European plans was performed to prepare the scenarios to simulate the foreseen case studies. A dataflow platform to be used in the simulation of European markets case studies and innovative designs was selected, and the models previously developed by the consortium’s members started to be adapted and new actors/agents to be modelled.
In this first period, the project, besides accomplishing the first three milestones, contributed to the ENTSO-E consultation of stakeholders on Options for possible Market Design evolutions in 2030 (entsoe.eu) and was invited to present TradeRES’ views at ENTSO-E stakeholder’s workshop.
From M19-M36 the focus and activities were associated with steps 3 and 4 of the project’s methodology that involved i) the conclusion of development of a set of tools capable of simulating the performance of proposed market designs; and ii) the application of those tools to test the (1st iteration) of the proposed market designs in comparison to the reference cases.
The most relevant difficulties experienced in the second reporting period were associated with the unforeseen geo-political events, and the impact they had on the European electricity markets, on the research teams of TradeRES project, and on the contact with stakeholders.
In spite of the additional challenges, during the second reporting period project TradeRES completed the database for the simulations, constructed the scenarios, defined the designs to be applied to WP5 case studies and completed the interlink of market models. It prepared all tools, tutorials and webinars and disseminated them. It is considered the overall workplan progressed steadily in the second reporting period, although some delays were identified.
The unfortunate events in Europe proved the objectives and ambition of TradeRES’ project are even more relevant in 2022 than at the beginning of the project. By the end of the second reporting period the delays identified in key activities of the project justified an extension of 10 months, what enabled to re-schedule the remaining final phase of the project and complete the workplan foreseen without additional deviations.
In an overview, TradeRES project and consortium were able to adapt to the altered circumstances of the electricity markets in Europe and refocused a project conceived for low TRLs to a much closer-to-market reality, as demonstrated by the ENTSO-E and EC consultations on electricity markets’ reforms.
TradeRES produced new market designs, models and products to test the new trends in European electricity markets, e.g. by: i) simulating scenarios for the newly proposed retribution schemes, CfDs – Contracts for Differences, alerting for their intrinsic differences and impacts in competitive trading; ii) addressing Capacity Remuneration Mechanisms (CRMs) versus energy-only market’s, enabling to conclude on the added-value of CRMs; as well as iii) developing strategies for the participation of variable-RES in different electricity markets, concluding they are able to maximize revenues and reduce their imbalances.
In summary, TradeRES not only fulfilled all the project initial objectives, but embraced new ones introduced by the actual European geo-politics and their intrinsic energy and market’s challenges. It produced, apart from a large quantity of high-quality deliverables, most publicly accessible; an open-access database for electricity markets simulations; several models and open-access tools (including a and a webtool) for markets simulations. The project concluded by publishing of a set of Electricity Market’s Recommendations summarized in the projects final Policy Brief, available at
https://traderes.eu/wp-content/uploads/2025/01/TradeRES_PolicyBrief.pdf(opens in new window)
