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Power providers
Generation Companies (GenCo) Independent system operators Network services Power balance Voltage control System stability Power reserve Transmission network operation TransCo Distribution network operation DisCo Independent Power Providers (IPP) Power aggregators Energy traders Energy brokers
Energy exchange / markets Spot market, e.g. day-ahead market Ancillary market
Load aggregators
also be bought/sold in an open energy market facilitated by one or more energy exchanges, e.g. the European Energy Exchange (EEX) in Germany. This market model is typically referred to as a spot energy market and is most common in TSO-structured energy markets for better market transparency and liquidity. Energy markets are often structured along time lines such as day-ahead, intra-day, etc. energy markets and types such as balancing, reserve, etc. energy markets. The proportion of energy traded on the spot market compared with what is xed by bilateral agreements can vary from one country to another. New requirements for network control centers Energy markets models vary signicantly from region to region and typically take many years to reach relative maturity, i.e. stable market rules. There is, therefore, a strong requirement for high exibility/customization in the proposed market solutions (g. 7.1-11). The ISO/TSO whilst responsible for rules that have been enforced for decades are now facing a much more complex process using market mechanisms to acquire the information and means enabling them to enforce these rules; information and means that are now own and controlled by the many competing market participants. And the ISO/TSO, as it gets access to the data necessary to fulll his role and responsibilities from the market participants, will need to enforce absolute condentiality since these data reects often market participants positioning, i.e. market competitive data. Similarly, network planning necessary to support a properly functioning energy market, i.e. one operating without congestion, has become a real challenge between the ISO/TSO, TransCos and these same market participants.
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