Minimization of imbalance cost trading wind power on the short-term power market

  title={Minimization of imbalance cost trading wind power on the short-term power market},
  author={Julija Matevosyan and L. Soder},
  journal={2005 IEEE Russia Power Tech},
Present power markets are designed for trading conventional generation. For wind generation to participate in a short-term energy market, lengthy wind power production forecasts are required. Although wind speed forecasting techniques are constantly improving, wind speed forecasts are never perfect, and resulting wind power forecast errors imply imbalance costs for wind farm owners. In this paper, a new method for minimization of imbalance costs is developed. Stochastic programming is used to… CONTINUE READING
Highly Cited
This paper has 191 citations. REVIEW CITATIONS


Publications citing this paper.
Showing 1-10 of 145 extracted citations

191 Citations

Citations per Year
Semantic Scholar estimates that this publication has 191 citations based on the available data.

See our FAQ for additional information.


Publications referenced by this paper.
Showing 1-10 of 12 references

The impact of the large scale wind power production on the Nordic electricity system

  • H. Holttinen
  • Ph.D. dissertation, Dept. Eng. Physics Math…
  • 2004
2 Excerpts

Forecasting output

  • D. Milborrow, L. Harrison, +4 authors M. McGovern
  • Wind Power Monthly, pp. 37–46, Dec. 2003.
  • 2003
1 Excerpt

Renewable Generation Integration Cost Analysis

  • B. Kirby, M. Milligan, Y. Makarov, D. Hawkins, K. Jackson, H. Shiu
  • Phase I. California Energy Commission/California…
  • 2003
1 Excerpt

The wind farm main controller and the remote control system of the Horns Rev wind farm

  • P. Christiansen, J. Kristoffersen
  • Proc. Int. Workshop Large-Scale Integration Wind…
  • 2003
1 Excerpt

Wind power integration in power system with bottleneck problems

  • J. Sveca, L. Söder
  • Proc. IEEE PowerTech Conf., 2003, vol. 2.
  • 2003
1 Excerpt

Matlab and GAMS: Interfacing Optimisation and Visualisation Software, Comput

  • M. C. Ferris
  • Sci. Dept., Univ. Wisconsin-Madison, Mathematical…
  • 1998
1 Excerpt

Similar Papers

Loading similar papers…