The unique German imbalance price (reBAP) is the settlement price for all Balancing Responsible Parties (BRP) in Germany. Next to this purpose the reBAP has a fundamental function for the German Electricity Market. It is up the reBAP to set correct incentives towards BRPs to close open positions in wholesale markets before TSOs need to acivate balancing energy to balance open positions. This is creating liquid markets and efficient allocation of generation and load.
For that purpose TSOs (Transmission Service Operater) further develop imbalance pricing according to the Guideline on Electricity Balancing (GL EB) as well as regulation set out by the national regulatory authority (Bundesnetzagentur) to unite EU regulation with the special role of the reBAP for the German Electricity Market.
In this project we created maschine learning models to predict the imbalance price n hours (1, 3, 6, 12, 24) ahead.