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Economic Aspects of Wind Power in Power Systems
KTH, School of Electrical Engineering (EES), Electric Power Systems.
2012 (English)In: Wind Power in Power Systems, Second Edition, John Wiley & Sons, 2012, 2, 489-516 p.Chapter in book (Refereed)
Abstract [en]

The integration of large amounts of wind power into the energy system requires a strong interplay with power markets. In this respect the power exchange is an important instrument, defining a single market clearing price for each trading period. Following the liberalisation of the EU electricity industry power markets are increasingly being organised as power exchanges to a certain extent following the same lines, where a number of if not identical then closely related services are being provided. Using the NordPool power market as an example this chapter outlines the basic characteristics of the two key markets, the day-ahead market and the regulating market. The determination of the day-ahead price is described and the impact of wind power on power prices investigated. Finally, the cost of regulation is addressed.

Place, publisher, year, edition, pages
John Wiley & Sons, 2012, 2. 489-516 p.
Keyword [en]
Day-ahead market, Power exchange, Power market, Power price, Regulating market
National Category
Energy Systems
Identifiers
URN: urn:nbn:se:kth:diva-144819DOI: 10.1002/9781119941842.ch22Scopus ID: 2-s2.0-84886183390ISBN: 978-047097416-2 OAI: oai:DiVA.org:kth-144819DiVA: diva2:716987
Note

QC 20140513

Available from: 2014-05-13 Created: 2014-04-29 Last updated: 2014-05-13Bibliographically approved

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