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High penetrated wind farm impacts on the electricity price: The Danish case | IEEE Conference Publication | IEEE Xplore

High penetrated wind farm impacts on the electricity price: The Danish case


Abstract:

Energy trading policies, intermittency of wind farm output power, low marginal cost of the production, are the key factors that cause the wind farms to be effective on th...Show More

Abstract:

Energy trading policies, intermittency of wind farm output power, low marginal cost of the production, are the key factors that cause the wind farms to be effective on the electricity price. In this paper, the Danish electricity market is studied as a part of Nord Pool. Considering the completely fossil fuel free overview in Danish energy policies, and the currently great share of wind power (more than 100% for some hours) in supplying the load, it is an interesting benchmark for the future electricity markets. Negative prices, price spikes, and price volatility are considered as the main effects of the high penetrated wind farm integration into electricity markets. Then, stochastic programming approach is employed to compare the volume of trades for a typical wind farm in a high and low wind penetrated market. Although increasing price spikes and volatility was reported in the literature, it is concluded that market policies could mitigate these problems.
Date of Conference: 07-10 June 2016
Date Added to IEEE Xplore: 01 September 2016
ISBN Information:
Conference Location: Florence, Italy

References

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