Wind power and market power in short-term electricity markets

Abstract

Summary Market power assessment is an important aspect of electricity market analysis and operation. This paper aims to analyze the impact of generation technologies and their ownership structure on the potential of market power in a short‐term period. The technological features of hydro and thermal power plants, such as upper and lower production limits, as well as ramp up and down rates are considered. Additionally, wind production uncertainty is modeled with considering spatiotemporal correlation among diverse wind farms. To evaluate the potential of the market power, 2 market concentration boundary problems are solved. These 2 problems seek to find minimum and maximum values of a market concentration measure, while considering operational constraints of a day‐ahead market clearing problem. The results through an IEEE 24‐bus Reliability Test System demonstrate that both boundaries of market concentration move down by greater number of generation owners. Additionally, the upper boundary of the market concentration can be reduced by a more diversified ownership of wind power capacity.

Integrated bidding strategy of distributed energy resources based on novel prediction and market model

“…Investigators have implemented many different methods to ameliorate the forecasted energy of wind speed. 2 The short-term prediction showed a high accuracy rate compared with other steady predictions. 3 The price management in markets by improving daily-ahead market (DM) and fulfilling markets bidding in adjusted market (AM) is one of the methods suggested for increasing market-rate profits.…”

“…This article presents a bidding method of market prices for natural resources such as the wind to decrease the presented deflection. Investigators have implemented many different methods to ameliorate the forecasted energy of wind speed . The short‐term prediction showed a high accuracy rate compared with other steady predictions .…”

Comprehensive evaluation model of wind power accommodation ability based on macroscopic and microscopic indicators

“…The macroscopic indicators establishment of this paper is mainly from 4 aspects such as installed generation capacity, generation energy, power supply structure and accommodation space. And its metering cycle is set on a monthly average [19,20].…”

“…And the results may be slightly different from actual wind power. According to the formula (20), weight ω i could be conversed to angle θ i : θ = (50.7, 40.0 40.0 52.7 32.5, 49.0, 56.3, 38.7), and then radar chart could be mapped according to θ.…”

Interval prediction algorithm and optimal scenario making model for wind power producers bidding strategy

“…The deregulated electricity markets were first designed for conventional generators, where power plants offer their generated power several hours before actual power delivery (Sirjani and Rahimiyan 2018). Then the independent system operator (ISO) determines the market price and the share of each generator's production.…”