The energy transition process taking place around the world has resulted in a significant adoption of variable renewable energy sources and this has brought a renewed perspective to system operators. Both in Brazil and in other markets, flexibility becomes a more necessary attribute as net load has increased variability that is mitigated by the dispatchable sources, which are more demanded. This work aims to verify whether there is value for a source in being flexible. For this purpose, a database was built of operational and price variables on an hourly basis from 2010 to 2023 for the entire Brazilian system, that includes years of greater and lesser scarcity of resources to meet the load. With this database, the Market Value and Value Factor metrics are calculated for dispatchable and non-dispatchable sources in the Brazilian system to verify the value captured by each one at different moments in the system. It demonstrates that there is value delivered by dispatchable technologies. Additionally, it is shown that the hydropower has higher value than non-dispatchable renewable sources, even in times of low availability of water resources.
Complete tool for submission, evaluation and publication of proceedings for scientific events.
