Ecogrid EU reports
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EcoGrid – a New Real-time Market for Small-scale Electricity Consumers
The EcoGrid real-time market concept is an extension of the existing power balancing markets and control systems in Europe. A five-minutes real-time market will extend the market operation closer to real-time. It means that the problems with forecast errors, eg related to wind generation inherently present in the conventional markets are minimized.
The development of a real-time market is considered one of the most efficient ways to meet the challenges on operating a system with increasing shares of renewable sources.
The EcoGrid real-time market will increase demand-side market participation and thereby reduce the need for costly flexibility on the production side/or compensate for traditional balancing power and services from convec ntional generation displaced by generation based on renewable sources.
Advanced meters and ICT solutions will enable residential electricity consumers to offer TSO´s additional balancing service for the benefit of the individual customer and the society.
Demand-participation in the system-wide market for energy and balancing in the transmission network