Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

Algarvio, Hugo; Couto, António; Lopes, Fernando; Estanqueiro, Ana

doi:10.3390/en12142765

Cited by 8 publications

(13 citation statements)

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“…The work presented here builds on our previous work in the areas of market design and the trade of wind power in energy markets [10,11]. In [10], we investigated the benefits of the participation of wind power producers in day-ahead and balancing markets.…”

Section: Introductionmentioning

confidence: 99%

“…In [10], we investigated the benefits of the participation of wind power producers in day-ahead and balancing markets. In [11], we analyzed the impact of the forecast uncertainty and the day-ahead market gate closure on market prices, price volatility and balancing reserve requirements. In this paper, as noted, we investigate the benefits of the participation of WPPS in intra-day markets, in terms of the deviations in reductions and the final revenue.…”

Section: Introductionmentioning

confidence: 99%

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Participation of Wind Power Producers in Intra-day Markets: A Case-Study

Rocha

Algarvio

Lopes

et al. 2020

Communications in Computer and Information Science

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The evolution of renewable energy has increased substantially over the past decade. Wind power producers (WPPs) can submit bids to energy markets, making short-term commitments to produce specific quantities of energy. This article presents a study to investigate the active participation of wind power producers in energy markets, particularly intra-day markets. The study is carried out with the help of the MATREM system. The results indicate a reduction of the deviations of WPPs, but also a decreasing in their remuneration. Thus, the results highlight to some extent the importance of new market mechanisms to enable the active participation of WPPs in markets, without incentive policies.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Participation of Wind Power Producers in Intra-day Markets: A Case-Study

Rocha

Algarvio

Lopes

et al. 2020

Communications in Computer and Information Science

Self Cite

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“…The simulations are performed with the help of the agent-based tool called MATREM (see [9,10]). Six key performance indicators (KPIs) are considered, namely the value of wind energy to the market, the global imbalances of the system, the imbalances and costs of WPPs and retailers, and the total cost of the system.The work presented here builds on our previous work in the areas of trading wind power in markets [11,12] and portfolio optimization of retailers [13]. Specifically, in [11], we investigated the benefits of the participation of WPPs in BMs at both economic and technical levels.…”

mentioning

confidence: 99%

“…Specifically, in [11], we investigated the benefits of the participation of WPPs in BMs at both economic and technical levels. In [12], we analyzed the impact of the wind power forecast uncertainty and the change of the day-ahead market gate closure on market outcomes. In [13], we introduced a model for optimizing the portfolios of retailers using the Markowitz theory.…”

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confidence: 99%

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Variable Renewable Energy and Market Design: New Products and a Real-World Study

et al. 2019

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Most existing energy markets (EMs) were not designed to take into account an active participation of variable renewable energy (VRE). This situation results typically in imbalances and substantial costs in balancing markets. Such costs are reflected both in the energy and the VRE parts of the consumer tariffs. Both appropriate market products and new elements of market design may largely facilitate the large-scale integration of VRE in EMs. Accordingly, this article presents a new bilateral energy contract and introduces two new marketplaces that can contribute to reduce the imbalances resulting from VRE producers. It also presents a study conducted with the help of an agent-based tool, called MATREM. The results indicate a significant decrease in the imbalances and the associated costs. Energies 2019, 12, 4576 2 of 17To address the issues associated with the participation of VRE producers in markets, adaptations to the current market structure as well as new elements of market design have been proposed by theorists and practitioners working on the area of competitive energy markets. For instance, the International Energy Agency points out that the physical transactions of electrical energy in power systems with high shares of VRE need to be made by considering auctions and centralized pools, and should not take into account feed-in-tariffs or other supporting schemes. The process of trading energy also needs to be improved by defining the terms of the transactions up to 30 min before real-time operation with an interval up to 10 min [6]. This near real-time negotiation is also supported by the Clean Energy Package (Article 7), published by the European Commission [7]. In this package, a new proposal for regulating the Internal Market for Electricity is presented, with the main goals of stimulating the global leadership of Europe in renewables, harmonizing markets rules, supporting the integration of VRE, and increasing the general welfare of consumers (see [8] for a complete overview). Article 6 of the new proposal indicates that market operators should develop new products to accommodate the increasing levels of VRE and support demand-response programs. Now, generally speaking, European markets typically allow bidding up to 5 to 30 min before real-time operation, contributing to reduce the imbalances resulting from VRE producers. The markets of North-America and Australia present some additional flexibility by including 5-min real-time (sub-)markets. Despite this, most real-world markets operate by considering power (MW) and not energy (MWh), thus allowing to some extent substantial deviations of VRE producers.Against this background, this article presents a new bilateral energy contract, called short-term energy (STE) contract, and introduces two new marketplaces that may allow to reduce the imbalances resulting from VRE producers (we note that throughout the article the terms "new marketplace" and "new market product" will be used interchangeably). The main aim is to enable an active and competitive participa...

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Wind power plants hybridised with solar power: A generation forecast perspective

Couto,

Estanqueiro

2023

Journal of Cleaner Production

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Changing the Day-Ahead Gate Closure to Wind Power Integration: A Simulation-Based Study

Cited by 8 publications

References 57 publications

Participation of Wind Power Producers in Intra-day Markets: A Case-Study

Participation of Wind Power Producers in Intra-day Markets: A Case-Study

Variable Renewable Energy and Market Design: New Products and a Real-World Study

Wind power plants hybridised with solar power: A generation forecast perspective

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