Simulating the Impact of Wind Production on Locational Marginal Prices

Author

Morales, Juan M. ; Conejo, Antonio J. ; Pérez-Ruiz, Juan

Author_Institution

Univ. of Castilla-La Mancha, Ciudad Real, Spain

Volume

26

Issue

2

fYear

2011

fDate

5/1/2011 12:00:00 AM

Firstpage

820

Lastpage

828

Abstract

This paper analyzes the impact of wind production on the locational marginal prices of a fully competitive pool-based electricity market. Wind productions are modeled as negative loads and characterized by historical data records. The analysis pertains to the structural relationship between wind production and locational marginal prices, and disregards the collateral effect of strategic offering. The study presented allows a statistical characterization of locational marginal prices as a function of the statistical data of the wind plants and the structure of the considered electric energy system.

Keywords

power generation economics; power markets; pricing; statistical analysis; wind power plants; electric energy system; full competitive pool-based electricity market; locational marginal prices; statistical characterization; statistical data; wind plants; wind production; Analytical models; Distribution functions; Matrix decomposition; Production; Random variables; Transmission line matrix methods; Wind energy; Wind energy generation; Wind farms; Wind speed; Locational marginal prices (LMPs); market clearing; simulation; wind power;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/TPWRS.2010.2052374

Filename

5512565