Artelys has been working for more than 10 years with EPEX SPOT, one of the main European power exchange. We provide mathematical expertise and technical assistance in order to audit, specify and analyze market clearing algorithms used by EPEX SPOT such as EUPHEMIA.

 

Furthermore, our cooperation has led to more projects such as the design of market clearing features, the impact assessments of new rules, the study and audit of existing markets, and the development of dedicated reporting tools.

 

Lately, Artelys has developed a market clearing algorithm for the specific needs of EPEX SPOT. This algorithm is used for weekly auctions to trade frequency reserve in one particular country in Europe. In this context, we have implemented specific rules such as merit order constraints, on top of a standard market model to clear a market of more than 100 000 orders.

 

Artelys has been working on many projects related to energy markets on behalf of the Belgian TSO Elia over the last years. For example, we have developed several versions of the market clearing engine to select the optimal procurement for FCR, mFRR, aFRR.

 

In the different projects, Artelys has been involved in the various phases of the projects, from specification to market rules via the implementation and support of the market clearing solution.

Artelys has developed a clearing engine for the guarantee of origin market in France, which is run by the EEX. Artelys was in charge of designing the clearing engine, writing the corresponding specifications, and of the development a prototype as a proof of concept in the initial phase of the project.

 

The clearing engine targets multiple objectives such as maximizing revenues and fairness while minimizing bids’ dispersion. The bidders could also provide preferences (origin and location of origin) and splitable bids. Artelys has developed a multi-stage optimization solution and has provided advanced options for the solver so as to successfully meet performance and scalability requirements.

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In close consultation of the Platform for the International Coordination of Automatic Frequency Restoration and Stable System Operation (PICASSO) Expert Group, Artelys has designed a price determination scheme for the PICASSO market clearing algorithm.

 

Thanks to its experience and expertise on Europe’s balancing markets, Artelys has provided quality analysis on the advantages and drawbacks on various proposed pricing schemes; identified the pricing scheme that is best fit for purpose; carried out an impact assessment of the pricing scheme, and has delivered a detailed mathematical description of the selected algorithm.

Artelys was in charge of providing the market clearing engine for the Trans European Replacement Reserves Exchange (TERRE), the pilot European implementation project for exchanging replacement reserves in line with the Guideline on Electricity Balancing.

 

The integration of technologies such as noSQL databases, messages broker, docker and solver led Artelys to successfully design and implement a robust algorithm processing up to 500 000 offers in an auction, with complex bids (i.e., blocks) and constraints (i.e., networks), in less than 3 minutes.

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Artelys is responsible for the development of the Manually Activated Reserves Initiative (MARI) clearing engines. MARI will be the European platform for the exchange of balancing energy from frequency restoration reserves with manual activation (mFRR), implemented in line with the Guideline on Electricity Balancing.

 

Artelys has first performed an initial study in order to design a solution extending the optimization module developed for the TERRE project and meeting MARI technical and very high performance requirements. Following this design and specification phase, Artelys is now working on implementing the market clearing engine for the MARI platform.