August 23, 2019
Europe*1 and Japan cooperatively proposed to the IEC the development of an international standard for an information model*2 for electricity balancing markets. This proposal was approved, so the IEC has started work on the standard.
Data exchanges based on the information model will be able to contribute to securing simple connections between different systems operating in the market.
1．Background and purpose of the proposal
A number of efforts are being undertaken to develop efficient electricity trading as a response to current circumstances where power supplied by renewable energy is increasingly introduced to national and international electricity grids around the world. The development includes modeling the information exchanged in the markets in order to allow participants to share a common understanding of the information.
In this context, Europe and Japan cooperatively proposed the development of an international standard (New Work Item Proposal) of information model for electricity balancing markets to IEC. This proposal was approved and the IEC has just started work on the standard *3.
Europe will take the lead on the project and create the standard based on the existing market and other research projects underway in Europe. Japan will contribute to making the international standard available not only in European countries but also in other countries in which markets similar to the European ones are operated.
*1 France is the project leader and ENTSO-E, which is an association of transmission system operators in Europe, fully supports the project.
*2 The title of the standard is “Framework for energy market communications - Part 451-7: Balancing processes：contextual and assembly models for European market”. The “European style market” in this title does not restrict the areas where the standard is used, but just represents a style of market. A balancing market is established to exchange data that allows for the trade in balancing resources, which contribute to balancing supply and demand volumes in electric grids in order to maintain or obtain stable electric power supply.
*3 The project is allocated to IEC TC 57 (Power Systems Management and Associated Information Exchange).
2．Outline of the proposal
The information model will be designed to define the data items and resulting representations that should be shared between market participants. The data items will include date and time, bids, prices and other items for trading.
The standardized information model will facilitate easy connection between systems owned and operated by various market participants in areas or countries that operate balancing markets with a style similar to European ones.
Division in Charge
International Standardization Division, Industrial Science and Technology Policy and Environment Bureau