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

11 Citations (Scopus)

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.
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
DOIs
Publication statusPublished - 2010
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
CountryChina
CityChengdu
Period28/03/201031/03/2010

Fingerprint

Wind power
Power generation
Electricity
Wind turbines
Power markets
Industry

Keywords

  • Electricity price
  • Wind power generation
  • Electricity

Cite this

Hu, Weihao ; Chen, Zhe ; Bak-Jensen, Birgitte. / The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets. Proceedings of the Asia-Pasific Power and Energy Engineering Conference, APPEEC 2010. IEEE Press, 2010.
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title = "The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets",
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.",
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Hu, W, Chen, Z & Bak-Jensen, B 2010, The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets. in Proceedings of the Asia-Pasific Power and Energy Engineering Conference, APPEEC 2010. IEEE Press, Asia-Pacific Power and Energy Engineering Conference, APPEEC 2010, Chengdu, China, 28/03/2010. https://doi.org/10.1109/APPEEC.2010.5448739

The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets. / Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte.

Proceedings of the Asia-Pasific Power and Energy Engineering Conference, APPEEC 2010. IEEE Press, 2010.

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

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AB - 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.

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