Day-Ahead Versus Intraday Valuation of Flexibility for Photovoltaic and Wind Power Systems

Ernesto Garnier () and Reinhard Madlener
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Ernesto Garnier: RWTH Aachen University

A chapter in Operations Research Proceedings 2014, 2016, pp 167-172 from Springer

Abstract: Abstract This paper takes the perspective of a photovoltaic (PV) or wind power plant operator who wants to optimally allocate demand-side flexibility to maximize realizable production value. We compare two allocation alternatives: (1) use of flexible loads to maximize relative day-ahead market value by shifting the portfolio balance in view of day-ahead prices; (2) use of flexible loads in intraday operations to minimize the costs incurred when balancing forecast errors. We argue that the second alternative yields a greater average value than the first in continuous-trade intraday markets. The argument is backed by a market data analysis for Germany in 2013.

Keywords: Wind Power; Forecast Error; Demand Response; Short Position; Flexible Load (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1007/978-3-319-28697-6_24

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