European Union License Plate Abbreviations

Therefore, electricity (energy, transmission capacity, flexibility) is exchanged in several markets until the actual delivery in real-time. Electricity is not only energy in MWh transmission capacity and flexibility are scarce resources and should be priced accordingly. These three unique physical characteristics explain why there is not just one electricity market. Therefore, the ability to change the generation/consumption of electricity at short notice has a value. However, demand and the availability of renewable energy resources can vary sharply over time, while some power stations can only change output slowly and can take many hours to start up. Flexibility: demand and generation must match each other at all times otherwise, there is a risk of blackout.Therefore, electricity has a different value over space. If not, there is a risk of cascading failures and blackouts. Location: electricity flows cannot be controlled easily and efficiently, and transmission components must be operated under safe flow limits.Therefore, electricity has a different value over time. Time: large volumes of electricity cannot be stored economically (yet).This is due to the physical characteristics of electricity: However, electricity markets differ substantially from other commodity markets. Why do we have so many electricity markets?Įlectricity can be considered a commodity, just as copper, oil and grain are. If you would like to dig deeper, our FSR online training on the Evolution of Electricity Markets in Europe might be what you are looking for! First, why do we have so many electricity markets? Second, what electricity markets are there, and how do they work? And third, what does the future hold? In this article, we give a brief overview of how electricity markets are organised in Europe.

European Union License Plate Abbreviations