The impact of Electricity Market Interventions by System Operators during Emergency Situations

During emergency situations System Operators are typically able to intervene in power system operation and also when relevant in market activities.
This work explores the impact of such interventions on electricity markets during or close to real time dispatch. Interventions support System Operators actions to restore power systems to normal operation by instructing market participants, to act in ways they would not voluntarily do and may have financial consequences on affected participants This impact on market actors often receives little attention, and in many cases, there are no clear rules or procedures in place to compensate affected market participants, complicating the resolution of the aftermath of such interventions. This work is expected to help rule makers better understand the topic and its consequences when designing regulations.