Multi-functional modelling tool for the significantly altering future electricity markets and their development

This organization hosts open-source tools and models developed during the SignAture research project (2022–2025), funded by the Latvian Council of Science (project No. lzp-2021/1-0227).

The SignAture project addresses key challenges in evolving electricity markets through three complementary research streams:

Operational optimization models of the Baltic power system (Estonia, Latvia, Lithuania) using the SpineOpt framework and Spine Toolbox.

Features:

• 2020 calibration/validation model with historical data
• 2050 future scenarios with high renewable penetration (6 GW wind, 2 GW solar)
• Detailed Daugava hydropower cascade modeling with reservoir dynamics
• Heat-electricity coupling for CHP plants
• Sensitivity analyses for demand, RES capacity, storage, and hydrological conditions

Publications:

• Baltputnis & Broka (2023). Future scenarios of the Baltic power system with large penetration of renewables. doi:10.1109/EEM58374.2023.10161795
• Baltputnis et al. (2024). Refinement and Calibration of Optimization Models for Baltic Region Energy System Development. doi:10.1109/RTUCON62997.2024.10830801

Simulation tool for Battery Energy Storage System (BESS) reserve provision, implementing a robust market-based management strategy for European balancing markets.

Features:

• Simultaneous FCR and aFRR market participation
• Market-based SOC restoration via intraday trading
• Full EU System Operation Guideline compliance for Limited Energy Reservoirs (LERs)
• Conservative and active SOC management strategies
• Voluntary FRR bidding with exhaustive worst-case validation

Publication:

• Baltputnis et al. (2024). Robust market-based battery energy storage management strategy for operation in European balancing markets. Journal of Energy Storage, 102, 114082. doi:10.1016/j.est.2024.114082

Market simulation framework for assessing price changes and welfare impacts from new market participants in electricity wholesale markets, with focus on independent aggregator (IA) participation in the Nordic day-ahead market.

Features:

• Simulations using historical Nord Pool bid/offer curves
• Welfare impact analysis (producer surplus, consumer surplus, DR consumer welfare)
• Compensation payment socialization scenarios
• Generalizable to any pay-as-cleared auction market
• Extensible to various market participants (storage, EVs, prosumers, etc.)

Publication:

• Baltputnis et al. (2025). Independent Aggregation in the Nordic Day-Ahead Market: What is the Welfare Impact of Socializing Supplier Compensation Payments? Heliyon, 11(1), e41619. doi:10.1016/j.heliyon.2024.e41619

Simulation inputs, intermediary results, and final outputs are available on Zenodo:

Each repository contains detailed installation and usage instructions. General requirements:

This research is funded by the Latvian Council of Science, project "Multi-functional modelling tool for the significantly altering future electricity markets and their development (SignAture)", project No. lzp-2021/1-0227.

All repositories in this organization are licensed under the MIT License.

For questions about the SignAture project or these tools, please open an issue in the relevant repository.