| Summary: | Power system inertia is an essential part of grid frequency control. The number of synchronously connected machines, which inherently provide inertia, is decreasing due to the transition to renewable energies. Conventional generation units are being replaced by renewable generation units which are connected to the grid via frequency converters. Some power systems already suffer from too little power system inertia. Hence, inertia is a valuable yet non-traded commodity. A day-ahead dispatch methodology to secure power system inertia was developed and is applied and assessed in this work. Day-ahead market data of the combined market of the Republic of Ireland and Northern Ireland is used. If the superimposition of sell and buy bids results in insufficient inertia, the dispatch algorithm is applied. In decreasing price order, non-inertia-providing sell bids get replaced by the following sell bids in the merit order. The iterative process is repeated until sufficient inertia is in the system. The provision of synthetic inertia by wind turbines is considered in the process. The costs for additional stored kinetic energy for the assessed time periods and scenarios result in costs ranging from 1.02 to 4.49 EUR/kgm<inline-formula><math xmlns="http://www.w3.org/1998/Math/MathML" display="inline"><semantics><msup><mrow></mrow><mn>2</mn></msup></semantics></math></inline-formula>.
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