Optimal electricity market for wind power

Hannele Holttinen

Research output: Contribution to journalArticleScientificpeer-review

125 Citations (Scopus)

Abstract

This paper is about electricity market operation when looking from the wind power producers’ point of view. The focus in on market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool electricity market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible market to wind power producer. As a result of reduced regulating market costs from better hourly predictions to the market, wind power producer would gain up to 8% more if the time between market bids and delivery was shortened from the day ahead Elspot market (hourly bids by noon for 12–36 h ahead). An after sales market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%.
Original languageEnglish
Pages (from-to)2052 - 2063
Number of pages12
JournalEnergy Policy
Volume33
Issue number16
DOIs
Publication statusPublished - 2005
MoE publication typeA1 Journal article-refereed

Fingerprint

wind power
Wind power
electricity
market
Sales
Power markets
Costs

Keywords

  • wind power
  • electricity market
  • forecasting
  • regulation market
  • wind energy
  • electricity markets

Cite this

Holttinen, Hannele. / Optimal electricity market for wind power. In: Energy Policy. 2005 ; Vol. 33, No. 16. pp. 2052 - 2063.
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Optimal electricity market for wind power. / Holttinen, Hannele.

In: Energy Policy, Vol. 33, No. 16, 2005, p. 2052 - 2063.

Research output: Contribution to journalArticleScientificpeer-review

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AB - This paper is about electricity market operation when looking from the wind power producers’ point of view. The focus in on market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool electricity market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible market to wind power producer. As a result of reduced regulating market costs from better hourly predictions to the market, wind power producer would gain up to 8% more if the time between market bids and delivery was shortened from the day ahead Elspot market (hourly bids by noon for 12–36 h ahead). An after sales market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%.

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KW - electricity market

KW - forecasting

KW - regulation market

KW - wind energy

KW - electricity markets

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