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Energy storage system (ESS) is a preferable option for controlling renewable fluctuation. However the practical solution needs to look at system level technical and economic viability. In this paper, the economic viability of applying ESS to wind farm in terms of levelised cost of storage has been investigated under power market environment. The optimal operating strategies have been analyzed for...
Profit allocation mechanism (PAM) for aggregating renewable power producers (RPPs) to participate in two-settlement power markets is studied. As opposed to assuming all renewable generation forecast information are publicly known, with a PAM, the aggregator elicits private forecast information from the RPPs, participates in the power markets, and allocate profit to each RPP. A novel profit allocation...
The grid integration of intermittent renewable energy sources (RES) causes costs for grid operators due to forecast uncertainty and the resulting production schedule mismatches. These so-called profile service costs are marginal cost components and can be understood as an insurance fee against RES production schedule uncertainty that the system operator incurs due to the obligation to always provide...
Risky power contracts are introduced for enabling wind power aggregation. First, the problem of optimal risky and firm power contract offering in the forward market is formulated in the single wind farm setting. Analytical solutions are obtained, and the concepts of fair price of wind power and price of unitized risk are introduced. The more general setting of two wind farms both trading risky and...
International offshore grids can combine the grid connection of offshore wind parks with the possibility for international power trading in the future. This paper investigates the choice of support scheme and power market design in international offshore grids and derives resulting incentives. For example, day-ahead market design could be chosen such that an offshore wind park is affiliated to a national...
Control power (regulating power, balancing power) is used to quickly restore the supply-demand balance in power systems. Variable renewable energy sources (VRE) such as wind and solar power are often thought to increase the reserve requirement significantly. This paper provides a comprehensive overview of balancing systems in Europe, discusses the role of VRE, and presents empirical market data from...
Large-scale integration of renewable energy sources in today's European hydro-thermal dominated power system will challenge its future operation. In Northern Europe wind power production is expected to contribute the main share to renewable energy sources. Wind forecasting and its inherent forecast error lead to increasing system imbalances. This will require higher production flexibility and more...
With an increasing wind power penetration, more generation intermittency will be added to the power system, requiring higher flexibility and thus more regulating reserves. Based on high resolution numerical weather prediction models and wind speed measurements, the actual and the forecasted wind power production is simulated for five scenarios covering the years 2010, 2015 and 2020. These scenarios...
Wind turbine power output is totally intermittent in the nature. For grid connected wind turbine generators, power system operators (transmission system operators) need reliable and robust wind power forecasting system. Rapid changes in the wind generation relative to the load require proper energy management system to maintain the power system stability and of course to balance the power generation,...
Trading wind energy in the electricity market is a challenging task due to the uncertain behavior of wind which is compounded further by the uncertainties in the electricity market. Although wind technology is developing fast, its availability is quite uncertain which brings in many operational difficulties compared to the traditional generation. The fluctuating nature must be considered when a Genco...
The Cornell SuperOPF is used to illustrate how the system costs can be determined for a reliable network (the amount of conventional generating capacity needed to maintain System Adequacy is determined endogenously). Eight cases are studied to illustrate the effects of geographical distribution, ramping costs and load response to customers payment in the wholesale market, and the amount of potential...
We consider load-side participation in electricity markets construed broadly to include energy as well as reserve transactions. Extending work in optimal plug-in-hybrid electric vehicle (PHEV) charging, we develop a decision support tool for load-side participation in energy markets, recognizing that it must be responsive to local distribution network dynamic congestion and marginal line loses. We...
Acknowledging that increasing intermittent clean energy generation is likely to impose a bottleneck in the demand for regulation reserves, we investigate potential increases in the supply of regulation service through enhanced participation of loads in electricity markets. Moreover, we focus on future markets where Loads connected at the distribution network participate extensively and in direct competition...
This paper presents two alternative electric market structures that increase market efficiency and reduce the cost of implementing RPS mandates. A review of existing market operation and the structure of RPS mandates provides necessary context. One alternative market structure combines a parallel market for stochastic renewable energy with incremental power flow control based on emerging power electronic...
With the emission reduction scheme introduced, increasing number of wind farms have been planned and/or installed in many countries. In this paper, issues with wind power connection to the existing power grid are discussed, with particular emphasize on system operations and planning aspects. In addition to power system analysis, implications of wind power impacts on the electricity market operations...
The ISO market design has evolved over time using traditions development, economic theory, power system operations heuristics and operational experience. Early market design made simplifying assumptions and approximations often due to the inability to solve the more detailed design. Complicating features in market design such as reactive power, unit commitment, switching of transmission assets, renewable...
A key requirement of electric system operation is the ability of system operators to manage all types of variability and uncertainty. Integrating large-scale wind power into electric system operation increases variability and uncertainty that can impact supply and demand balance performance requirements. Many Independent System Operators (ISOs) are in the process of addressing these challenges. The...
This paper discusses risk management, contracting, and bidding for a wind power producer. A majority of the wind power in the United States is sold on long-term power purchase agreements, which hedge the wind power producer against future price risks. However, a significant amount is sold as merchant power and therefore is exposed to fluctuations in future electricity prices (day-ahead and real-time)...
The combination of offshore wind generation with international transmission cables is a highly discussed topic in Europe, especially for the North Sea and the Baltic Sea. The offshore wind park location Kriegers Flak in the Baltic Sea could combine offshore wind generation in the Swedish, German and Danish zones, and several design options with regard to cabling are under discussion. Choosing a certain...
This paper reviews the design and operation of a number of large, regional organized markets in the US, as well as the operation of stand-alone single balancing area bilateral markets, from the viewpoint of integrating large amounts of variable output renewable energy sources. Significant differences between the two types of markets are noted. In addition, a series of shortcomings of the first generation...
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