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This paper proposes a market mechanism for co-optimization of energy and reserve procurement in dayahead electricity markets with high shares of renewable energy. The single-stage chance-constrained day-ahead market clearing problem takes uncertain wind in-feed into account, resulting in optimal day-ahead dispatch schedule and an affine participation policy for generators for the real-time reserve provision. Under certain assumptions, the chance-constrained market clearing is reformulated as a convex quadratic program. Using tools from equilibrium modeling and variational inequalities, we explore the existence and uniqueness of a Nash equilibrium. Under the assumption of perfect competition in the market, we evaluate the satisfaction of desirable market properties, namely cost recovery, revenue adequacy, market efficiency, and incentive compatibility. To illustrate the effectiveness of the proposed market clearing, it is benchmarked against a deterministic cooptimization of energy and reserve procurement. Biased and unbiased out-of-sample simulation results for a power systems test case highlight that the proposed market clearing results in lower expected system operations cost than the deterministic benchmark, without the loss of any desirable market properties.

A successful transition towards a cleaner and more sustainable energy management in 2050 requires the implementation of renewable energy sources on a large scale. Therefore, it is expected that the share of renewable energy will further increase. Due to the introduction of these intermittent energy sources, the need for flexibility in our energy system increases significantly. Power-togas (P2G) is one promising option for providing long term energy storage and for providing flexibility to the electricity system. An interesting, recent technological development is biological methanation. The latter utilizes microorganisms to catalyze the Sabatier reaction. This biological reaction can be achieved at lower temperatures and pressures than when a chemical catalyst is used and has a higher tolerance to contaminations from the CO2 source, process upset or contamination by foreign organisms. We investigate the techno-economic potential of biological methanation (i.e. microbial power-togas concept) using a case study that revolves around anaerobic digestion using mainly municipal organic waste in Belgium. The most important parameters that influence the economic feasibility are the electricity consumption (44 %), operating hours of the electrolyser (14 %), and the investment cost of the electrolyser (14 %). Based on our findings we offer further routes of research that serve to strengthen the business case.

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