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Electricity prices are the key instrument for coordinating electricity markets. For long-term market analyses, price determination based on fundamental unit commitment simulations is required. Within the European wholesale market, electricity prices result from a market clearing, which finds a welfare-optimal price–quantity tuple considering a coupling of multiple market areas with limited transmission capacity. With increasing exchange capacities in Europe, the precise modeling of the market coupling is required. Many market simulation models use multi-stage approaches with a separation of market coupling and price determination. In this paper, we analyze a new single-stage approach that combines both steps and theoretically and empirically demonstrate its precision by a backtest. For this purpose, we compare a simulated versus a historical electricity price distribution. Moreover, we explain the necessary adjustments for future regulatory developments of the European electricity market regarding flow-based market coupling and propose a concept for the application of future regulatory developments. We demonstrate further developments using a future scenario. [ABSTRACT FROM AUTHOR]

Abstract: Feeder reconfiguration is one of the most important tasks for loss reduction and reliability improvement in distribution networks. Most of studies so far have investigated reconfiguration problem as a static problem considering fixed level of loads. This assumptions lead to suboptimal solution because of time-varying nature of loads in distribution networks. The switching operation should be cost effective and the reconfiguration scheme should balance the benefits in system loss reduction and reliability improvement against the costs of switching. Moreover, this is a dynamic problem and switching operations of time intervals over a year are not independent. This paper presents a method to determine annual feeder reconfiguration scheme considering switching costs and time-varying variables such as load profiles. In the first stage of the proposed method, to obtain effective configurations, optimal configuration for each day of year is determined independently using harmony search algorithm (HSA) and graph theory. After determination of effective configurations for the network, in the second stage, year is divided into multi equal periods and considering loss cost, interruption cost and also switching cost from a configuration to another configuration, dynamic programming algorithm (DPA) is used to find the optimum annual reconfiguration scheme. The proposed method has been tested on 95-bus distribution network and the obtained results denote that to have an optimum solution it is necessary to compare operation costs dynamically. [Copyright &y& Elsevier]