Farzin Ghasemi-Olanlari @Farzin-Ghasemi-Olanlari-2

Hi everyone,

I have just entered the topic of electricity markets. I have some questions about the real-time market (balancing market).

Suppose I am the power plant operator and I want to participate in the electricity markets to maximize my profits. One of the markets I intend to participate in is the real-time market.

As you know, the real-time market runs on an hourly basis. Therefore, it is performed 24 times during a day.

In some articles (like Article Real-time energy management of a smart virtual power plant

), the real-time market runs 24 times a day, so the market participant must solve the problem (optimal participation in markets) 24 times.

In other articles (like Article Offering model for a virtual power plant based on stochastic...

) , the real-time market is modeled the same as the day-ahead market. In these articles, the problem is solved only once.

My question is, why the real-time market is modeled differently in articles? Aren't these modelings different from each other?