European electricity market simulation for future scenarios with high renewable energy production

The increasing feed-in of Renewable Energy Sources (RES) and the coupling of electricity markets fundamentally change the European energy system. To investigate the impact of these developments, models are necessary which provide regionally disaggregated load and generation time series as an estimate of future system states. With the Model of International Energy Systems (MILES), this paper presents a market model for simulating demand and supply of electrical energy under consideration of generation and transmission constraints. Previous versions of MILES have already been applied in several energy system studies. As important characteristics, the model enables to generate spatially high-resolution feed-in time series of RES as well as Combined Heat and Power (CHP) plants and to perform one-year simulations for determining cost-minimal hourly generation schedules of thermal and pumped storage power plants. MILES is validated by the comparison of simulation results for the ENTSO-E region for the year 2013 with published historical data.