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With an increasing wind power penetration, more generation intermittency will be added to the power system, requiring higher flexibility and thus more regulating reserves. Based on high resolution numerical weather prediction models and wind speed measurements, the actual and the forecasted wind power production is simulated for five scenarios covering the years 2010, 2015 and 2020. These scenarios are taken as an input to an integrated northern European market model, analyzing the procurement of regulating reserves and their activation. Further on, the possible benefit of integrating the northern European regulating power markets for handling the intermittent production is investigated.