A market clearing solution for the Hungarian balancing market

This paper deals with the design and functioning of the new Hungarian energy market infrastructure. We particularly emphasize on day-ahead tertiary regulation market, called in this paper minute control market. This market takes place in day-ahead. Its primary goal is a least-cost clearing of regulation bids needed to balance the system and manage congestions. This goal is achieved through an open, transparent and competitive process based on a constrained linear programming formulation of the market clearing problem.