Integrating Intermittent Renewable Wind Generation: A Stochastic Multi-Market Electricity Model for the European Electricity Market

Jan Abrell and Friedrich Kunz

No 1301, Discussion Papers of DIW Berlin from DIW Berlin, German Institute for Economic Research

Abstract: In northern Europe wind energy has become a dominating renewable energy source due to natural conditions and national support schemes. However, the uncertainty about wind generation affects existing network infrastructure and power production planning of generators and cannot not be fully diminished by wind forecasts. In this paper we develop a stochastic electricity market model to analyze the impact of uncertain wind generation on the different electricity markets as well as network congestion management. Stochastic programming techniques are used to incorporate uncertain wind generation. The technical characteristics of transporting electrical energy as well as power plants are explicitly taken into account. The consecutive clearing of the electricity markets is incorporated by a rolling planning procedure reflecting the market regime of European markets. The model is applied to the German electricity system covering an exemplary week. Three different cases of considering uncertain wind generation are analyzed. The results reveal that the flexibility of the generation dispatch is increased either by using more flexible generation technologies or by flexibilizing the generation pattern of rather inflexible technologies.

Keywords: Electricity; Unit Commitment; Stochasticity; Renewable Energy (search for similar items in EconPapers)
JEL-codes: C61 D41 L94 (search for similar items in EconPapers)
Pages: 27 p.
Date: 2013
New Economics Papers: this item is included in nep-ene, nep-eur and nep-reg
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Citations: View citations in EconPapers (7)

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Journal Article: Integrating Intermittent Renewable Wind Generation - A Stochastic Multi-Market Electricity Model for the European Electricity Market (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:diw:diwwpp:dp1301

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