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Trading Wind Generation From Short-Term Probabilistic Forecasts of Wind Power
Due to the fluctuating nature of the wind resource, a wind power producer participating in a liberalized electricity market is subject to penalties related to regulation costs. Accurate forecasts of
From probabilistic forecasts to statistical scenarios of short-term wind power production
Short-term (up to 2-3 days ahead) probabilistic forecasts of wind power provide forecast users with a highly valuable information on the uncertainty of expected wind generation. Whatever the type of
Standardizing the Performance Evaluation of Short-Term Wind Power Prediction Models
TLDR
A standardized protocol for the evaluation of short-term windpower prediction systems is proposed and a number of reference prediction models are described, and their use for performance comparison is analysed.
Probabilistic Forecasting of Wind Power Generation Using Extreme Learning Machine
Accurate and reliable forecast of wind power is essential to power system operation and control. However, due to the nonstationarity of wind power series, traditional point forecasting can hardly be
Optimal Bidding Strategy of Battery Storage in Power Markets Considering Performance-Based Regulation and Battery Cycle Life
TLDR
A novel bidding model is incorporated into a profit maximization model to determine the optimal bids in day-ahead energy, spinning reserve, and regulation markets and a decomposed online calculation method to compute cycle life under different operational strategies is proposed to reduce the complexity of the model.
Integrating Renewables in Electricity Markets: Operational Problems
TLDR
This paper presents a meta-modelling framework called GAMS Codes, which automates the very labor-intensive and therefore time-heavy and expensive process of manually cataloging and automating the various stages of stochastic production.
Estimation of the uncertainty in wind power forecasting
Wind power experiences a tremendous development in Europe. Though, the intermittence of wind generation causes difficulties in the management of power systems. Moreover, in the context of the
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