IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v57y2013icp106-115.html
   My bibliography  Save this article

Approaching wind power forecast deviations with internal ex-ante self-balancing

Author

Listed:
  • Scharff, Richard
  • Amelin, Mikael
  • Söder, Lennart

Abstract

Short-term variations in wind power generation make real-time balancing of load and generation a more challenging task for the Transmission System Operator (TSO). One issue of interest that could facilitate the efficient integration of wind power is to shift larger parts of the balancing responsibility from the TSO to the power generating companies. The idea is to reduce the real-time balancing need for the TSO by demanding power generating companies to minimise their expected imbalances. To comply with this, power generating companies can re-schedule their production based on updated production forecasts. As a key of the contribution, this paper analyses internal ex-ante self-balancing, where this re-scheduling is done shortly before the period of delivery and internally within each power generating company. To quantify the value of such a more distributed balancing responsibility, a model has been developed which consists of a sequence of optimisation models. Then, possible trading decisions of power generating companies are evaluated in different situations. This is based on a hydro-thermal generation portfolio within the framework of the Nordic electricity market.

Suggested Citation

  • Scharff, Richard & Amelin, Mikael & Söder, Lennart, 2013. "Approaching wind power forecast deviations with internal ex-ante self-balancing," Energy, Elsevier, vol. 57(C), pages 106-115.
    • Handle: RePEc:eee:energy:v:57:y:2013:i:c:p:106-115
    DOI: 10.1016/j.energy.2013.03.033
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544213002211
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2013.03.033?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Holttinen, H., 2005. "Optimal electricity market for wind power," Energy Policy, Elsevier, vol. 33(16), pages 2052-2063, November.
    2. Skytte, Klaus, 1999. "The regulating power market on the Nordic power exchange Nord Pool: an econometric analysis," Energy Economics, Elsevier, vol. 21(4), pages 295-308, August.
    3. Klessmann, Corinna & Nabe, Christian & Burges, Karsten, 2008. "Pros and cons of exposing renewables to electricity market risks--A comparison of the market integration approaches in Germany, Spain, and the UK," Energy Policy, Elsevier, vol. 36(10), pages 3646-3661, October.
    4. Wagner, Hermann-Josef & Baack, Christoph & Eickelkamp, Timo & Epe, Alexa & Lohmann, Jessica & Troy, Stefanie, 2011. "Life cycle assessment of the offshore wind farm alpha ventus," Energy, Elsevier, vol. 36(5), pages 2459-2464.
    5. Mabel, M. Carolin & Raj, R. Edwin & Fernandez, E., 2010. "Adequacy evaluation of wind power generation systems," Energy, Elsevier, vol. 35(12), pages 5217-5222.
    6. Sen, Anindya, 2006. "Microeconomics: Theory and Applications," OUP Catalogue, Oxford University Press, edition 2, number 9780195686463.
    7. Weber, Christoph, 2010. "Adequate intraday market design to enable the integration of wind energy into the European power systems," Energy Policy, Elsevier, vol. 38(7), pages 3155-3163, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lund, Peter D. & Lindgren, Juuso & Mikkola, Jani & Salpakari, Jyri, 2015. "Review of energy system flexibility measures to enable high levels of variable renewable electricity," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 785-807.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Angelica Gianfreda, Lucia Parisio and Matteo Pelagatti, 2016. "The Impact of RES in the Italian DayAhead and Balancing Markets," The Energy Journal, International Association for Energy Economics, vol. 0(Bollino-M).
    2. Ketterer, Janina C., 2014. "The impact of wind power generation on the electricity price in Germany," Energy Economics, Elsevier, vol. 44(C), pages 270-280.
    3. Jean-Michel Glachant & Arthur Henriot, 2013. "Melting-pots and salad bowls: the current debate on electricity market design for RES integration," Working Papers EPRG 1329, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    4. De Vos, Kristof & Driesen, Johan & Belmans, Ronnie, 2011. "Assessment of imbalance settlement exemptions for offshore wind power generation in Belgium," Energy Policy, Elsevier, vol. 39(3), pages 1486-1494, March.
    5. Arthur Henriot, 2012. "Market design with wind: managing low-predictability in intraday markets," RSCAS Working Papers 2012/63, European University Institute.
    6. Wolfgang Buchholz & Jonas Frank & Hans-Dieter Karl & Johannes Pfeiffer & Karen Pittel & Ursula Triebswetter & Jochen Habermann & Wolfgang Mauch & Thomas Staudacher, 2012. "Die Zukunft der Energiemärkte: Ökonomische Analyse und Bewertung von Potenzialen und Handlungsmöglichkeiten," ifo Forschungsberichte, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, number 57, October.
    7. Hirth, Lion & Ueckerdt, Falko & Edenhofer, Ottmar, 2015. "Integration costs revisited – An economic framework for wind and solar variability," Renewable Energy, Elsevier, vol. 74(C), pages 925-939.
    8. Ricardo Bessa & Carlos Moreira & Bernardo Silva & Manuel Matos, 2014. "Handling renewable energy variability and uncertainty in power systems operation," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 3(2), pages 156-178, March.
    9. Johannes Mauritzen, 2015. "Now or Later? Trading Wind Power Closer to Real Time And How Poorly Designed Subsidies Lead to Higher Balancing Costs," The Energy Journal, International Association for Energy Economics, vol. 0(Number 4).
    10. Fatih Karanfil and Yuanjing Li, 2017. "The Role of Continuous Intraday Electricity Markets: The Integration of Large-Share Wind Power Generation in Denmark," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2).
    11. Cutler, Nicholas J. & Boerema, Nicholas D. & MacGill, Iain F. & Outhred, Hugh R., 2011. "High penetration wind generation impacts on spot prices in the Australian national electricity market," Energy Policy, Elsevier, vol. 39(10), pages 5939-5949, October.
    12. Joan Batalla-Bejerano & Elisa Trujillo-Baute, 2015. "Analysing the sensitivity of electricity system operational costs to deviations in supply and demand," Working Papers 2015/8, Institut d'Economia de Barcelona (IEB).
    13. Marian Klobasa & Jenny Winkler & Frank Sensfuß & Mario Ragwitz, 2013. "Market Integration of Renewable Electricity Generation — The German Market Premium Model," Energy & Environment, , vol. 24(1-2), pages 127-146, February.
    14. Chinmoy, Lakshmi & Iniyan, S. & Goic, Ranko, 2019. "Modeling wind power investments, policies and social benefits for deregulated electricity market – A review," Applied Energy, Elsevier, vol. 242(C), pages 364-377.
    15. Valitov, Niyaz & Maier, Andreas, 2020. "Asymmetric information in the German intraday electricity market," Energy Economics, Elsevier, vol. 89(C).
    16. Bjørndal, Endre & Bjørndal, Mette & Midthun, Kjetil & Zakeri, Golbon, 2016. "Congestion Management in a Stochastic Dispatch Model for Electricity Markets," Discussion Papers 2016/12, Norwegian School of Economics, Department of Business and Management Science.
    17. Goodarzi, Shadi & Perera, H. Niles & Bunn, Derek, 2019. "The impact of renewable energy forecast errors on imbalance volumes and electricity spot prices," Energy Policy, Elsevier, vol. 134(C).
    18. Klaus Skytte & Lucien Bobo, 2019. "Increasing the value of wind: From passive to active actors in multiple power markets," Wiley Interdisciplinary Reviews: Energy and Environment, Wiley Blackwell, vol. 8(3), May.
    19. Henriot, Arthur & Glachant, Jean-Michel, 2013. "Melting-pots and salad bowls: The current debate on electricity market design for integration of intermittent RES," Utilities Policy, Elsevier, vol. 27(C), pages 57-64.
    20. Kim, Gyeongmin & Hur, Jin, 2021. "Probabilistic modeling of wind energy potential for power grid expansion planning," Energy, Elsevier, vol. 230(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:57:y:2013:i:c:p:106-115. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.