Title :
Simulation of Trading Arrangements Impact on Wind Power Imbalance Costs
Author_Institution :
Sch. of Electr. Eng., R. Inst. of Technol., Stockholm
Abstract :
Uncertain wind power forecasts is a disadvantage in an electricity market where the majority of the trading is performed several hours before the actual delivery. This paper presents a model which can be used to study how changes in the trading arrangement-in particular changing the delay time between closure of the spot market and the delivery period or changing the imbalance pricing system-would affect different players in the electricity market. The model can be used in Monte Carlo simulation, which is demonstrated for an example system.
Keywords :
Monte Carlo methods; power markets; pricing; Monte Carlo simulation; electricity market; pricing system; trading arrangements impact; wind power forecasts; wind power imbalance costs; Costs; Economic forecasting; Electricity supply industry; Power generation; Power system modeling; Pricing; Wind energy; Wind energy generation; Wind forecasting; Wind speed;
Conference_Titel :
Probabilistic Methods Applied to Power Systems, 2008. PMAPS '08. Proceedings of the 10th International Conference on
Print_ISBN :
978-1-9343-2521-6
Electronic_ISBN :
978-1-9343-2540-7
