Skip to Main content Skip to Navigation
Conference papers

The impact of electricity market schemes on predictability being a decision factor in the wind farm investment phase

Abstract : Wind power production forecasts over the next hours to days ahead are a prerequisite for the secure and economic operation of power systems with high wind power penetration. For wind power producers who participate in a day-ahead electricity market, low predictability of wind production results in imbalance costs. This influences the revenue, and in turn, the pay back of the investment. The aim of this work is to evaluate the role of wind power predictability versus the traditional used criterion of capacity factor on the investment phase of a wind farm and on spatial planning in an electricity market context. The study cases of OMEL and PJM markets are considered to generalize the results of the West Denmark (DK1) case study in order to quantify the impact of predictability. In the three studies, we find that the role of capacity factor in explaining the revenue is greatly more important than the predictability (more than 99% in comparison with 0.05% for predictability in OMEL, 0.04% in NordPool and, in average, 0.001% for PJM).
Document type :
Conference papers
Complete list of metadatas

Cited literature [11 references]  Display  Hide  Download

https://hal-mines-paristech.archives-ouvertes.fr/hal-00788287
Contributor : Fiona Foucault <>
Submitted on : Tuesday, July 2, 2013 - 12:47:45 PM
Last modification on : Thursday, September 24, 2020 - 5:20:17 PM
Long-term archiving on: : Thursday, October 3, 2013 - 4:09:00 AM

File

articlePoster.pdf
Files produced by the author(s)

Identifiers

  • HAL Id : hal-00788287, version 2

Citation

Fiona Foucault, Robin Girard, Georges Kariniotakis. The impact of electricity market schemes on predictability being a decision factor in the wind farm investment phase. EWEA 2013, Feb 2013, Austria. pp.1-8. ⟨hal-00788287v2⟩

Share

Metrics

Record views

325

Files downloads

481