The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets

Research output: Contribution to book/anthology/report/conference proceedingArticle in proceedingResearchpeer-review

Abstract

The western Danish power system is currently the grid area in the world that has the largest share of wind power in its generation profiles, with more than 20% of its annual consumption generated by wind turbines. In this paper, the western Danish power system, which may represent the future of competitive electricity markets in some ways, is chosen as the studied power system. The relationship between the electricity price (both the spot price and the regulation price) and the wind power generation in an electricity market is investigated in this paper. The spot price, the down regulation price and the up regulation price generally decreases when the wind power penetration in the power system increases. The statistical characteristics of the spot price for different wind power penetration are analyzed. The findings of this paper may be useful for wind power generation companies to make the optimal bidding strategy and may be also useful for the optimal operation of modern power systems with high wind power
penetrations.
Close

Details

The western Danish power system is currently the grid area in the world that has the largest share of wind power in its generation profiles, with more than 20% of its annual consumption generated by wind turbines. In this paper, the western Danish power system, which may represent the future of competitive electricity markets in some ways, is chosen as the studied power system. The relationship between the electricity price (both the spot price and the regulation price) and the wind power generation in an electricity market is investigated in this paper. The spot price, the down regulation price and the up regulation price generally decreases when the wind power penetration in the power system increases. The statistical characteristics of the spot price for different wind power penetration are analyzed. The findings of this paper may be useful for wind power generation companies to make the optimal bidding strategy and may be also useful for the optimal operation of modern power systems with high wind power
penetrations.
Original languageEnglish
Title of host publicationProceedings of the Asia-Pasific Power and Energy Engineering Conference, APPEEC 2010
Number of pages4
PublisherIEEE Press
Publication date2010
ISBN (Print)978-1-4244-4812-8
DOI
Publication statusPublished - 2010
Publication categoryResearch
Peer-reviewedYes
EventAsia-Pacific Power and Energy Engineering Conference, APPEEC 2010 - Chengdu, China
Duration: 28 Mar 201031 Mar 2010

Conference

ConferenceAsia-Pacific Power and Energy Engineering Conference, APPEEC 2010
LandChina
ByChengdu
Periode28/03/201031/03/2010

Bibliographical note

INSPEC Accession Number: 11257680

    Research areas

  • Electricity price, Wind power generation, Electricity
ID: 44512375