Episode 431: PICASSO platform is step towards EU real-time electricity market, despite concerns
Description
The EU is moving closer towards the development of a real-time electricity market thanks to critical tools such as the Platform for the International Coordination of Automated Frequency Restoration and Stable System Operation, (PICASSO) and, more recently, the launch of quarter hourly trading intervals.
Somewhat like Picasso’s art, the platform is a bold attempt to harmonise the EU’s diverse markets and bring efficiency in an ecosystem increasingly dominated by renewable generation, which will require more real-time responses as this capacity expands.
However, in recent months, it has raised many concerns because of price volatility, with some countries delaying its adoption. Italy, however, seems to be moving in opposite direction, preparing to rejoin after pulling out.
In this podcast, energy market specialists Giovanni Musella and Tatjana Jovanovic talk to Aura Sabadus about the problems that have been flagged by participants and the solutions proposed to smooth out operations.
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