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Advanced strategies for wind power trading in short-term electricity markets

Abstract : Independent power producers have the possibility to participate in short-term electricity markets to trade wind power energy in several countries in Europe. Under such market context, penalties may apply for differences between the contracted energy and the produced energy. The limited predictability of the wind resource may thus result to a reduction of the competitiveness of wind power generation. In this paper, we propose a risk-based decision approach for optimizing the benefits of an energy producer who submits energy bids in a day-ahead electricity market. Loss functions are used to model the penalties resulting from imbalances. For achieving this, we use wind power probabilistic forecasts. The benefits from the approach are demonstrated using real-word data for a whole year.
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  • HAL Id : hal-00506067, version 1

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Franck Bourry, Jérémie Juban, Luis Costa, Georges Kariniotakis. Advanced strategies for wind power trading in short-term electricity markets. European Wind Energy Conference & Exhibition EWEC 2008, Mar 2008, Brussels, Belgium. 8 p. ⟨hal-00506067⟩

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