Wind power producers in shorter gate closure markets and balancing markets

Hannele Holttinen, Jari J. Miettinen, António Couto, Hugo Algarvio, Luis Rodrigues, Ana Estanqueiro

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

4 Citations (Scopus)

Abstract

Wind power is increasingly integrated into power systems through electricity markets. To make the market operation economically possible for wind power producers, the period between bids and delivery (gate closure time) is crucial. Wind power will experience larger forecast errors the longer the gate closure time. This paper presents a case study for wind power producers in Portugal (MIBEL) and Finland and Denmark (Nordpool). Historical wind power forecasts and realized generation together with market prices are used as an example. First the day-ahead and balancing prices are analyzed to see impacts of existing wind power in the markets. Then analyses of imbalance costs are made to illustrate the benefits of shorter gate closure times for wind power producers. The option for wind power producers to become active agents also in imbalance markets is explored, by bidding part of the forecast error one hour before.
Original languageEnglish
Title of host publicationEuropean Energy Market (EEM), 2016 13th International Conference on the
PublisherIEEE Institute of Electrical and Electronic Engineers
Pages1-5
ISBN (Electronic)978-1-5090-1298-5
ISBN (Print)978-1-5090-1299-2
DOIs
Publication statusPublished - 28 Jul 2016
MoE publication typeA4 Article in a conference publication
Event13th International on the Conference on the European Energy Market, EEM 2016 - Porto, Portugal
Duration: 6 Jun 20169 Jun 2016
Conference number: 13

Conference

Conference13th International on the Conference on the European Energy Market, EEM 2016
Abbreviated titleEEM 2016
CountryPortugal
CityPorto
Period6/06/169/06/16

Fingerprint

Wind power
Costs

Keywords

  • wind power
  • ancillary services
  • balancing market
  • frequency control
  • service provision

Cite this

Holttinen, H., Miettinen, J. J., Couto, A., Algarvio, H., Rodrigues, L., & Estanqueiro, A. (2016). Wind power producers in shorter gate closure markets and balancing markets. In European Energy Market (EEM), 2016 13th International Conference on the (pp. 1-5). IEEE Institute of Electrical and Electronic Engineers . https://doi.org/10.1109/EEM.2016.7521309
Holttinen, Hannele ; Miettinen, Jari J. ; Couto, António ; Algarvio, Hugo ; Rodrigues, Luis ; Estanqueiro, Ana. / Wind power producers in shorter gate closure markets and balancing markets. European Energy Market (EEM), 2016 13th International Conference on the. IEEE Institute of Electrical and Electronic Engineers , 2016. pp. 1-5
@inproceedings{65f4bc61db07487bb0c7e2f859a8b106,
title = "Wind power producers in shorter gate closure markets and balancing markets",
abstract = "Wind power is increasingly integrated into power systems through electricity markets. To make the market operation economically possible for wind power producers, the period between bids and delivery (gate closure time) is crucial. Wind power will experience larger forecast errors the longer the gate closure time. This paper presents a case study for wind power producers in Portugal (MIBEL) and Finland and Denmark (Nordpool). Historical wind power forecasts and realized generation together with market prices are used as an example. First the day-ahead and balancing prices are analyzed to see impacts of existing wind power in the markets. Then analyses of imbalance costs are made to illustrate the benefits of shorter gate closure times for wind power producers. The option for wind power producers to become active agents also in imbalance markets is explored, by bidding part of the forecast error one hour before.",
keywords = "wind power, ancillary services, balancing market, frequency control, service provision",
author = "Hannele Holttinen and Miettinen, {Jari J.} and Ant{\'o}nio Couto and Hugo Algarvio and Luis Rodrigues and Ana Estanqueiro",
year = "2016",
month = "7",
day = "28",
doi = "10.1109/EEM.2016.7521309",
language = "English",
isbn = "978-1-5090-1299-2",
pages = "1--5",
booktitle = "European Energy Market (EEM), 2016 13th International Conference on the",
publisher = "IEEE Institute of Electrical and Electronic Engineers",
address = "United States",

}

Holttinen, H, Miettinen, JJ, Couto, A, Algarvio, H, Rodrigues, L & Estanqueiro, A 2016, Wind power producers in shorter gate closure markets and balancing markets. in European Energy Market (EEM), 2016 13th International Conference on the. IEEE Institute of Electrical and Electronic Engineers , pp. 1-5, 13th International on the Conference on the European Energy Market, EEM 2016, Porto, Portugal, 6/06/16. https://doi.org/10.1109/EEM.2016.7521309

Wind power producers in shorter gate closure markets and balancing markets. / Holttinen, Hannele; Miettinen, Jari J.; Couto, António; Algarvio, Hugo; Rodrigues, Luis; Estanqueiro, Ana.

European Energy Market (EEM), 2016 13th International Conference on the. IEEE Institute of Electrical and Electronic Engineers , 2016. p. 1-5.

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

TY - GEN

T1 - Wind power producers in shorter gate closure markets and balancing markets

AU - Holttinen, Hannele

AU - Miettinen, Jari J.

AU - Couto, António

AU - Algarvio, Hugo

AU - Rodrigues, Luis

AU - Estanqueiro, Ana

PY - 2016/7/28

Y1 - 2016/7/28

N2 - Wind power is increasingly integrated into power systems through electricity markets. To make the market operation economically possible for wind power producers, the period between bids and delivery (gate closure time) is crucial. Wind power will experience larger forecast errors the longer the gate closure time. This paper presents a case study for wind power producers in Portugal (MIBEL) and Finland and Denmark (Nordpool). Historical wind power forecasts and realized generation together with market prices are used as an example. First the day-ahead and balancing prices are analyzed to see impacts of existing wind power in the markets. Then analyses of imbalance costs are made to illustrate the benefits of shorter gate closure times for wind power producers. The option for wind power producers to become active agents also in imbalance markets is explored, by bidding part of the forecast error one hour before.

AB - Wind power is increasingly integrated into power systems through electricity markets. To make the market operation economically possible for wind power producers, the period between bids and delivery (gate closure time) is crucial. Wind power will experience larger forecast errors the longer the gate closure time. This paper presents a case study for wind power producers in Portugal (MIBEL) and Finland and Denmark (Nordpool). Historical wind power forecasts and realized generation together with market prices are used as an example. First the day-ahead and balancing prices are analyzed to see impacts of existing wind power in the markets. Then analyses of imbalance costs are made to illustrate the benefits of shorter gate closure times for wind power producers. The option for wind power producers to become active agents also in imbalance markets is explored, by bidding part of the forecast error one hour before.

KW - wind power

KW - ancillary services

KW - balancing market

KW - frequency control

KW - service provision

U2 - 10.1109/EEM.2016.7521309

DO - 10.1109/EEM.2016.7521309

M3 - Conference article in proceedings

SN - 978-1-5090-1299-2

SP - 1

EP - 5

BT - European Energy Market (EEM), 2016 13th International Conference on the

PB - IEEE Institute of Electrical and Electronic Engineers

ER -

Holttinen H, Miettinen JJ, Couto A, Algarvio H, Rodrigues L, Estanqueiro A. Wind power producers in shorter gate closure markets and balancing markets. In European Energy Market (EEM), 2016 13th International Conference on the. IEEE Institute of Electrical and Electronic Engineers . 2016. p. 1-5 https://doi.org/10.1109/EEM.2016.7521309