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Estimating real-time balancing prices in wind power systems
KTH, School of Electrical Engineering (EES), Electric Power Systems.
KTH, School of Electrical Engineering (EES), Electric Power Systems.ORCID iD: 0000-0002-8189-2420
2009 (English)In: Proceedings of the 2009 Power Systems Conference and Exposition (PSCE), 2009, 229-237 p.Conference paper, Published paper (Refereed)
Abstract [en]

As the amounts of installed wind power increases in the power system, the required real-time balancing quantities increases because of the unpredictability of wind power production. Real-time balancing power is usually provided through various market solutions and thus, the prices on such markets will be affected by the increase in wind power production. Consequently, there exist a need for planning and simulation tools concerning the increased balancing demand. This paper therefore describes an estimation model for real-time balancing prices in systems where significant levels of wind power will be added. The model is divided into two steps: The first estimating the changes in required real-time balancing quantities, and the second calculating the corresponding price changes.

Place, publisher, year, edition, pages
2009. 229-237 p.
Keyword [en]
Estimation models, Power systems, Price changes, Simulation tool, Time balancing, Wind power production, Wind power systems
National Category
Other Electrical Engineering, Electronic Engineering, Information Engineering
Identifiers
URN: urn:nbn:se:kth:diva-10263DOI: 10.1109/PSCE.2009.4840069ISI: 000271244500034Scopus ID: 2-s2.0-70349177536OAI: oai:DiVA.org:kth-10263DiVA: diva2:213671
Conference
IEEE/PES Power Systems Conference and Exposition Seattle, WA, MAR 15-18, 2009 IEEE; PES
Note
QC 20100804Available from: 2009-04-28 Created: 2009-04-28 Last updated: 2011-03-01Bibliographically approved
In thesis
1. On optimal hydropower bidding in systems with wind power: Modeling the impact of wind power on power markets
Open this publication in new window or tab >>On optimal hydropower bidding in systems with wind power: Modeling the impact of wind power on power markets
2009 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The introduction of large amounts of wind power into power systems will increase the production uncertainties due to unforeseen wind power production variations. This will have a significant impact on the required balance management quantities. The most suitable power source to balance fast production or consumption variations is hydropower because of its flexibility and low operational costs.

This thesis addresses the problem of trading of electricity on the daily marketfrom a hydropower producer perspective in a system with large amounts of wind power. The overall aim is to present models that can be used in the trading decision process. This thesis describes models within three different areas:1. Modeling of the demand for balancing power by using deterministic andstochastic models. The stochastic models are based on stochastic differentialequations.2. Modeling of prices on the day-ahead and real-time markets using deterministic and stochastic models. The stochastic models are based on time series modeling.3. Short-term hydropower scheduling of trading decisions. These problems areformulated as stochastic optimization problems where the market prices arerandom variables.

The first two can be used to simulate the impact of wind power on various market prices, while the third simulates how the hydropower producer responds to market prices. Thereby, the thesis presents the necessary models for short-term scheduling of hydropower for a future system with significant amounts of wind power.

This thesis concludes that the proposed price models are sufficient to reflect the relevant price properties, and that the proposed short-term hydropower scheduling models can be used to simulate the actions taken by the hydropower producer in a system with significant amounts of wind power. This is also supported by the case studies in the appended publications.

Place, publisher, year, edition, pages
Stockholm: KTH, 2009. xi, 76 p.
Series
Trita-EE, ISSN 1653-5146 ; 2009:021
Keyword
Hydropower, wind power, stochastic modeling, optimization
National Category
Other Electrical Engineering, Electronic Engineering, Information Engineering
Identifiers
urn:nbn:se:kth:diva-10266 (URN)978-91-7415-301-9 (ISBN)
Public defence
2009-05-13, E1, Lindstedsvägen 3, KTH, Stockholm, Stockholm, 13:00 (English)
Opponent
Supervisors
Note
QC 20100804Available from: 2009-05-08 Created: 2009-04-28 Last updated: 2011-01-12Bibliographically approved

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Söder, Lennart

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