The Value of Intra-Day Markets in Power Systems With High Wind Power Penetration

Author

Jafari, Ali M. ; Zareipour, Hamidreza ; Schellenberg, Antony ; Amjady, Nima

Author_Institution

Syst. Oper. Group, Altalink Manage. Co., Calgary, AB, Canada

Volume

29

Issue

3

fYear

2014

fDate

41760

Firstpage

1121

Lastpage

1132

Abstract

In this paper, the value of intra-day markets in managing wind power uncertainty in competitive electricity markets is analyzed. A competitive electricity market model consisting of a day-ahead market and a number of intra-day markets is considered. Real-time operation adjustment is also taken into account. Stochastic programming is used to model decision making under wind power uncertainty. Numerical simulations based on two test systems are presented.

Keywords

decision making; numerical analysis; power generation economics; power markets; stochastic programming; wind power plants; competitive electricity market model; day-ahead market; decision making; high wind power penetration; intra-day markets; numerical simulations; power systems; real-time operation adjustment; stochastic programming; test systems; wind power uncertainty management; Electricity supply industry; Real-time systems; Schedules; Stochastic processes; Uncertainty; Wind forecasting; Wind power generation; Intra-day markets; multi-stage scenario tree; stochastic programming; uncertainty; wind power;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/TPWRS.2013.2288308

Filename

6670790