Analysis of the New Portuguese and Spanish Necps Using Cevesa Market Model

The recent updates of the National Energy and Climate Plans (NECPs) for Portugal and Spain have some significant changes compared to the previous 2019 versions, especially for the Portuguese side where a greater demand and renewable generation capacity are foreseen. This work assesses the impact of these new plans on the Iberian electricity market (MIBEL) main outcomes using CEVESA market model. Simulation results allow the analysis of the expected generation mix and prices, $\text{CO}_{2}$ emissions, system cost, system adequacy, interconnections capacity usage, H2 demand impact and its contribution to provide balancing flexibility, under different simulation scenarios.