A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets

Ibon Vicente-Figueirido; Amaia Gonzalez-Garrido; Joseba Jimeno; Carlos Madina; Ines Gomez-Arriola; Ander Zubiria

doi:10.1109/EEM64765.2025.11050210

A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets

Ibon Vicente-Figueirido^*
, Amaia Gonzalez-Garrido
, Joseba Jimeno
, Carlos Madina
, Ines Gomez-Arriola
, Ander Zubiria

^*Corresponding author for this work

Flexibility and advanced operation of electrical networks

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

Nowadays, Day-Ahead market price cannibalization particularly affects photovoltaic (PV) plants, as this phenomenon impacts the revenue per unit of energy. However, renewable assets can participate in balancing services to increase their market revenues. Despite many research articles proposed complex optimization techniques, the market bidding of operational PV assets remains unsophisticated nowadays. This article studies and compares the market strategies of PV plants during near-zero price days in Spain, highlighting how these PV plants, despite having similar characteristics, operate with significantly different market decisions. It concludes that participation in balancing markets increases solar value by capturing higher revenues. Solar trackers also enhance daily solar generation. In the future, market agents of PV systems should adjust their operations to multiple energy markets and trends in market prices to optimize revenue stacking.

Original language	English
Title of host publication	2025 21st International Conference on the European Energy Market, EEM 2025
Publisher	IEEE Computer Society
ISBN (Electronic)	9798331512781
DOIs	https://doi.org/10.1109/EEM64765.2025.11050210
Publication status	Published - 2025
Event	21st International Conference on the European Energy Market, EEM 2025 - Lisbon, Portugal Duration: 27 May 2025 → 29 May 2025

Publication series

Name	International Conference on the European Energy Market, EEM
ISSN (Print)	2165-4077
ISSN (Electronic)	2165-4093

Conference

Conference	21st International Conference on the European Energy Market, EEM 2025
Country/Territory	Portugal
City	Lisbon
Period	27/05/25 → 29/05/25

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Balancing Services
Electricity Markets
Market Revenue Stacking
NearZero Prices
Photovoltaic Plants

Access to Document

10.1109/EEM64765.2025.11050210

Cite this

Vicente-Figueirido, I., Gonzalez-Garrido, A., Jimeno, J., Madina, C., Gomez-Arriola, I., & Zubiria, A. (2025). A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets. In 2025 21st International Conference on the European Energy Market, EEM 2025 (International Conference on the European Energy Market, EEM). IEEE Computer Society. https://doi.org/10.1109/EEM64765.2025.11050210

Vicente-Figueirido, Ibon ; Gonzalez-Garrido, Amaia ; Jimeno, Joseba et al. / A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets. 2025 21st International Conference on the European Energy Market, EEM 2025. IEEE Computer Society, 2025. (International Conference on the European Energy Market, EEM).

@inproceedings{ee940c77a3c144aaaa89d16288b74687,

title = "A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets",

abstract = "Nowadays, Day-Ahead market price cannibalization particularly affects photovoltaic (PV) plants, as this phenomenon impacts the revenue per unit of energy. However, renewable assets can participate in balancing services to increase their market revenues. Despite many research articles proposed complex optimization techniques, the market bidding of operational PV assets remains unsophisticated nowadays. This article studies and compares the market strategies of PV plants during near-zero price days in Spain, highlighting how these PV plants, despite having similar characteristics, operate with significantly different market decisions. It concludes that participation in balancing markets increases solar value by capturing higher revenues. Solar trackers also enhance daily solar generation. In the future, market agents of PV systems should adjust their operations to multiple energy markets and trends in market prices to optimize revenue stacking.",

keywords = "Balancing Services, Electricity Markets, Market Revenue Stacking, NearZero Prices, Photovoltaic Plants",

author = "Ibon Vicente-Figueirido and Amaia Gonzalez-Garrido and Joseba Jimeno and Carlos Madina and Ines Gomez-Arriola and Ander Zubiria",

note = "Publisher Copyright: {\textcopyright} 2025 IEEE.; 21st International Conference on the European Energy Market, EEM 2025 ; Conference date: 27-05-2025 Through 29-05-2025",

year = "2025",

doi = "10.1109/EEM64765.2025.11050210",

language = "English",

series = "International Conference on the European Energy Market, EEM",

publisher = "IEEE Computer Society",

booktitle = "2025 21st International Conference on the European Energy Market, EEM 2025",

address = "United States",

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Vicente-Figueirido, I , Gonzalez-Garrido, A , Jimeno, J , Madina, C , Gomez-Arriola, I & Zubiria, A 2025, A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets. in 2025 21st International Conference on the European Energy Market, EEM 2025. International Conference on the European Energy Market, EEM, IEEE Computer Society, 21st International Conference on the European Energy Market, EEM 2025, Lisbon, Portugal, 27/05/25. https://doi.org/10.1109/EEM64765.2025.11050210

A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets. / Vicente-Figueirido, Ibon ; Gonzalez-Garrido, Amaia ; Jimeno, Joseba et al.
2025 21st International Conference on the European Energy Market, EEM 2025. IEEE Computer Society, 2025. (International Conference on the European Energy Market, EEM).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets

AU - Vicente-Figueirido, Ibon

AU - Gonzalez-Garrido, Amaia

AU - Jimeno, Joseba

AU - Madina, Carlos

AU - Gomez-Arriola, Ines

AU - Zubiria, Ander

PY - 2025

Y1 - 2025

N2 - Nowadays, Day-Ahead market price cannibalization particularly affects photovoltaic (PV) plants, as this phenomenon impacts the revenue per unit of energy. However, renewable assets can participate in balancing services to increase their market revenues. Despite many research articles proposed complex optimization techniques, the market bidding of operational PV assets remains unsophisticated nowadays. This article studies and compares the market strategies of PV plants during near-zero price days in Spain, highlighting how these PV plants, despite having similar characteristics, operate with significantly different market decisions. It concludes that participation in balancing markets increases solar value by capturing higher revenues. Solar trackers also enhance daily solar generation. In the future, market agents of PV systems should adjust their operations to multiple energy markets and trends in market prices to optimize revenue stacking.

AB - Nowadays, Day-Ahead market price cannibalization particularly affects photovoltaic (PV) plants, as this phenomenon impacts the revenue per unit of energy. However, renewable assets can participate in balancing services to increase their market revenues. Despite many research articles proposed complex optimization techniques, the market bidding of operational PV assets remains unsophisticated nowadays. This article studies and compares the market strategies of PV plants during near-zero price days in Spain, highlighting how these PV plants, despite having similar characteristics, operate with significantly different market decisions. It concludes that participation in balancing markets increases solar value by capturing higher revenues. Solar trackers also enhance daily solar generation. In the future, market agents of PV systems should adjust their operations to multiple energy markets and trends in market prices to optimize revenue stacking.

KW - Balancing Services

KW - Electricity Markets

KW - Market Revenue Stacking

KW - NearZero Prices

KW - Photovoltaic Plants

UR - https://www.scopus.com/pages/publications/105011090706

U2 - 10.1109/EEM64765.2025.11050210

DO - 10.1109/EEM64765.2025.11050210

M3 - Conference contribution

AN - SCOPUS:105011090706

T3 - International Conference on the European Energy Market, EEM

BT - 2025 21st International Conference on the European Energy Market, EEM 2025

PB - IEEE Computer Society

T2 - 21st International Conference on the European Energy Market, EEM 2025

Y2 - 27 May 2025 through 29 May 2025

ER -

Vicente-Figueirido I , Gonzalez-Garrido A , Jimeno J , Madina C , Gomez-Arriola I, Zubiria A. A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets. In 2025 21st International Conference on the European Energy Market, EEM 2025. IEEE Computer Society. 2025. (International Conference on the European Energy Market, EEM). doi: 10.1109/EEM64765.2025.11050210

A Comparative Analysis of the Market Bidding Decisions of Operational Pv Plants during Near-Zero Prices in the Spanish Electricity Markets

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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