European offshore strategy : a view on some impacts of offshore bidding zones on electricity markets

The European offshore renewable energy strategy is considering the deployment of hybrid projects, i.e. projects that combine offshore generation capacity with transmission capacity connecting two or more bidding zones, in order to achieve the climate targets of 2050 set by the European Green Deal. This report focuses on some the electricity market arrangements to be applied to offshore hybrid projects. Two market designs are discussed: the Home Market setup and the Offshore Bidding Zone setup. Dispatch modelling is conducted on a national level on both models for the year 2030 for the Belgian region, and on a multinational level on the second model for the Belgian and Danish regions. Concepts central to this thesis are Offshore Bidding Zone, Home Market, interconnections and economic dispatch.