Abstract-Renewable energy generation in the All-Island of 5 Ireland (AII) is set to increase by 2020 due to binding renew-6 able energy targets. To achieve these targets, there will be periods 7 of time when 75% of electricity will be generated mainly from 8 onshore wind. Currently, the AII system can accommodate a 50%

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Abstract-Power systems have evolved as countries implement energy policies focusing on energy efficiency and increased share of renewable energy sources (RES). At the forefront is nondispatchable generation such as wind and solar. Traditionally power systems were designed for fully dispatchable generating plant. However, these powers systems are under additional pressure due to the variable operational characteristics of RES. Consequently, capital investments in grid reinforcement, interconnection, additional gas generators and smart grid initiatives have been proposed and implemented. Moreover, an increased interest in energy storage technologies has evolved due to their various economic and operational benefits to power systems. Current compressed air energy storage (CAES) plants have shown economic feasibility and reliability. Thus, the main focus of this paper is to investigate and compare two scenarios; one without CAES and a second with CAES as an additional generator in the 2020 Irish power system using power systems simulation software PLEXOS.

The Integrated Single Electricity Market (I-SEM) is the proposed wholesale electricity market for Ireland and it is intended to replace the current market by the end of 2017. Under the I-SEM, wind generation will be exposed to forecast risk and the requirement to be balance responsible. The use of Compressed Air Energy Storage (CAES) could represent a better system configuration which would reduce the reliance on expensive generation for system balancing and reduce the financial risk to wind generation. Thus, the aim of this paper is to estimate the future economic performance of wind generation with and without CAES, in the I-SEM. Specifically, the day-ahead and balancing mechanism system marginal prices are estimated under the I-SEM for various scenarios.

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