Title :
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
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;
Journal_Title :
Power Systems, IEEE Transactions on
DOI :
10.1109/TPWRS.2013.2288308
