The implementation of a single, unified electricity market is one of the main challenges the European Union has to face, says the Hungarian Power Exchange (HUPX).
Stability in electricity supply has to be maintained even during system disturbances such as a power plant failure or the loss of a large load. Under extreme conditions, EU Member States need to be able to rely on other market players of the neighbouring countries to meet their balancing energy needs.
Although the importance of market coupling has been highlighted for a long time already, Southern European countries are not in such an advanced state on this field as the Western- and Northern-European member states. Coupling European energy markets will boost the security of supply and give Southern European markets the opportunity to improve their current state.
In this regard, HUPX highlights the importance of the TRINITY project which is intended to support the creation of a fully unified, single smart electricity grid connecting EU and non-EU countries in the South- and Central-Eastern European regions, whilst new, innovative products developed within the framework of the project will promote higher penetration of renewables.
The consortium consists of 19 partners, including Nominated Electricity Market Operators (NEMOs), Transmission System Operators (TSOs), Research centres and technology providers.