Abstract
Energy trading policies, intermittency of wind farm output power, low marginal cost of the production, are the key factors that cause the wind farms to be effective on the electricity price. In this paper, the Danish electricity market is studied as a part of Nord Pool. Considering the completely fossil fuel free overview in Danish energy policies, and the currently great share of wind power (more than 100% for some hours) in supplying the load, it is an interesting benchmark for the future electricity markets. Negative prices, price spikes, and price volatility are considered as the main effects of the high penetrated wind farm integration into electricity markets. Then, stochastic programming approach is employed to compare the volume of trades for a typical wind farm in a high and low wind penetrated market. Although increasing price spikes and volatility was reported in the literature, it is concluded that market policies could mitigate these problems.
Original language | English |
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Title of host publication | Proceedings of the 2016 IEEE International Conference on Environment and Electrical Engineering (EEEIC), 2016 |
Number of pages | 5 |
Publisher | IEEE Press |
Publication date | Jun 2016 |
ISBN (Electronic) | 978-1-5090-2320-2 |
DOIs | |
Publication status | Published - Jun 2016 |
Event | 16 IEEE International Conference on Environment and Electrical Engineering - Florence, Italy Duration: 7 Jun 2016 → 10 Jun 2016 http://eeeic.eu/ |
Conference
Conference | 16 IEEE International Conference on Environment and Electrical Engineering |
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Country/Territory | Italy |
City | Florence |
Period | 07/06/2016 → 10/06/2016 |
Internet address |
Keywords
- High penetrated wind farms
- Danish electricity market
- Electricity price
- Stochastic programming