ELMOD - A Model of the European Electricity Market

Electricity Markets Working Paper No. WP-EM-00

29 Pages Posted: 22 Jul 2008

See all articles by Florian Leuthold

Florian Leuthold

Dresden University of Technology - Faculty of Economics and Business Management

Hannes Weigt

WWZ, Wirtschaftswissenschaftliche Fakultät der Universität Basel

Christian von Hirschhausen

German Institute for Economic Research (DIW Berlin) - Department of International Economics

Date Written: July 22, 2008

Abstract

This paper provides a description of ELMOD, a model of the European electricity market including both generation and the physical transmission network (DC Load Flow approach). The model was developed at the Chair of Energy Economics and Public Sector Management (EE2) at Dresden University of Technology in order to analyze various questions on market design, congestion management, and investment decisions, with a focus on Germany and Continental Europe. ELMOD is a bottom-up model combining electrical engineering and economics: its objective function is welfare maximization, subject to line flow, energy balance, and generation constraints. The model provides simulations on an hourly basis, taking into account variable demand, wind input, unit commitment, start-up costs, pump storage, and other details. We report selected study results using ELMOD.

Keywords: Electricity markets, Energy pricing, Network modeling

JEL Classification: D41, D61, L94

Suggested Citation

Leuthold, Florian U. and Weigt, Hannes and von Hirschhausen, Christian, ELMOD - A Model of the European Electricity Market (July 22, 2008). Electricity Markets Working Paper No. WP-EM-00, Available at SSRN: https://ssrn.com/abstract=1169082 or http://dx.doi.org/10.2139/ssrn.1169082

Florian U. Leuthold (Contact Author)

Dresden University of Technology - Faculty of Economics and Business Management ( email )

Mommsenstrasse 13
Dresden, D-01062
Germany

Hannes Weigt

WWZ, Wirtschaftswissenschaftliche Fakultät der Universität Basel ( email )

Basel, 4051
Switzerland

HOME PAGE: http://fonew.unibas.ch/

Christian Von Hirschhausen

German Institute for Economic Research (DIW Berlin) - Department of International Economics ( email )

Mohrenstraße 58
Berlin, 10117
Germany
+49-30-89789-343 (Phone)
+49/30/897 89 -200 (Fax)

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