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

    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