Optimal wind farm bids under different balancing market arrangements

@article{Ravnaas2010OptimalWF,
  title={Optimal wind farm bids under different balancing market arrangements},
  author={K W Ravnaas and Hossein Farahmand and Gerard L. Doorman},
  journal={2010 IEEE 11th International Conference on Probabilistic Methods Applied to Power Systems},
  year={2010},
  pages={30-35}
}
If a wind power producer must pay the costs of imbalances, the question arises of what is the optimal bid, given the market rules and the statistical properties of the wind forecasts and the imbalance prices. In this paper we derive optimal wind power bids for two sets of market rules, reflecting previous and new rules in the Nordic power system. The optimal bids are based on the evaluation of a large number of scenarios for the realizations of the wind forecasts and the balancing market prices… CONTINUE READING
6 Citations
9 References
Similar Papers

References

Publications referenced by this paper.
Showing 1-9 of 9 references

Final report, IEA Wind Task 25, Design and operation of power systems with large amounts of wind power

  • Hanne Holttinen
  • IEA,
  • 2009
2 Excerpts

Key Issues in Facilitating Cross - Border Trading of Tertiary Reserves and Energy Balancing ”

  • E. Handschin W. Schulz, C. Rehtanz
  • 2009

Ravnaas, “Optimal bid for a wind farm

  • Kristian Wiik
  • Master Thesis NTNU,
  • 2009
2 Excerpts

Evaluation of wind power integration practices in Germany

  • W. Schulz, E. Handschin, C. Rehtanz
  • International Journal of Energy Technology and…
  • 2008
1 Excerpt

Methodology of the Scenario Tree Tool

  • Rüdiger Barth, Lennart Söder, Christoph Weber, Heike Brand, Derk Jan Swider
  • Wilmar Deliverable
  • 2006
1 Excerpt

Simulation of Short-term Wind Forecast Errors using a Multi-Variate ARMA(1,1) Time-series model

  • Andrew Boone
  • 2005
3 Excerpts

Models for an improved balance settlement ”

  • Hakån Heden

Similar Papers

Loading similar papers…