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Performance of wholesale electricity markets with high wind penetration

Daniel Marshman, Michael Brear, Matthew Jeppesen and Brendan Ring

Energy Economics, 2020, vol. 89, issue C

Abstract: 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)
Date: 2020
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DOI: 10.1016/j.eneco.2020.104803

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