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With the publication of EU Renewable Energy Guide and the release of the 2020 energy goals, the wind power is incorporated into the power market on a large scale has become an inevitable trend. However, with a substantial increase of wind power proportion to the overall power generation capacity, the cost of wind power connected to the power grid increased accordingly and the impact of wind power...
Available wind power forecasting tools predict the future values of wind power production. System operators use those predictions to estimate the severity of wind power ramp up/down events, and determine the set of actions needed to manage those events. In this paper, a direct approach for predicting the severity of wind power ramp events is presented. Ramp events are categorized into ‘classes’, and...
In this paper we discuss the use of wind power forecasting in electricity market operations. In particular, we demonstrate how probabilistic forecasts can contribute to address the uncertainty and variability in wind power. We focus on efficient use of forecasts in the unit commitment problem and discuss potential implications for electricity market operations.
The reliability of earnings forecasts could help investors make decisions. There are many factors which could affect the reliability of earnings forecasts. In this study, we test the of factors influence the reliability via regression model. The regression model shows that the forecasting error is related to the factors of motivation of earnings management, the foreseeable of earnings, the amount...
A high accurate wind speed forecasting can effectively reduce or avoid the adverse effect of wind farm on power grid, meanwhile enhances the competitive ability of wind power in electricity market. In this paper, a short-term wind speed forecasting method based on auto-regressive integrated moving average (ARIMA) and least square support vector machine (LS-SVM) is proposed. The weights are calculated...
Over the last several years, the ERCOT ISO has been experiencing an ever increasing penetration of variable generation resources in the system, a majority being Wind-powered Generation Resources. Although the ERCOT ISO continues to reliably maintain and operate the grid, additional tools and training will be needed in order to successfully integrate more variable generation resources into the system...
Globally on-shore wind power has seen considerable growth in all grid systems. In the coming decade off-shore wind power is also expected to expand rapidly. Wind power is variable and intermittent over various time scales because it is weather dependent. Therefore wind power integration into traditional grids needs additional power system and electricity market planning and management for system balancing...
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