EUPHEMIA: Examination of the implementation of the EUPHEMIA model in the Greek wholesale market to support decisions by Regulatory Authority of Energy, funded by the Joint Research Centre, European Commission, Research Center of the University of Piraeus

The project aims at examining different scenarios of adoption of the EUPHEMIA model in the Greek wholesale market,towards adopting the target model. the project aims at the examination of different scenarios concerning the different products included in the Pan-European Hybrid Electricity Market Integration Algorithm (EUPHEMIA), which is to be adopted in the Greek wholesale electricity market. More specifically in a running economic dispatch model that the Energy & Environmental Policy laboratory operates, different types of orders of the EUPHEMIA algorithm are incorporated and examined, such as: hourly orders, block orders, flexible blocks and complex orders with minimum income condition. Moreover, the project, examines different scenarios concerning the impact of minimum variable cost restriction on offers by producers.