Performance of wholesale electricity markets with high wind penetration
Matthew Jeppesen and
Energy Economics, 2020, vol. 89, issue C
This paper examines the impact of progressively deeper levels of wind generation and/or abatement on the performance of a wholesale market and its incumbent thermal generators with non-convex unit commitment constraints. Comparison is made to the result that marginal cost pricing should induce investors to build the least-cost capacity mix, since it is not clear that this will hold in renewable-rich systems.
Keywords: Wholesale electricity markets; Unit commitment; Wind power; Revenue sufficiency (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:89:y:2020:i:c:s0140988320301432
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