 Internal hydro- and wind portfolio optimisation in real-time market operationsHans Ole Riddervold, Ellen Krohn Aasgård, Lisa Haukaas and Magnus Korpås Renewable Energy, 2021, vol. 173, issue C, 675-687 Abstract: In this paper aspects related to handling of intraday imbalances for hydro and wind power are addressed. The definition of imbalance cost is established and used to describe the potential benefits of shifting from plant-specific schedules to a common load requirement for wind and hydropower units in the same price area. The Nordpool intraday pay-as-bid market has been the basis for evaluation of imbalances, and some main characteristics for this market has been described. We consider how internal handling of complementary imbalances within the same river system with high inflow uncertainty and constrained reservoirs can reduce volatility in short-term marginal cost and risk compared to trading in the intraday market. We have also shown that the imbalance cost for a power producer with both wind and hydropower assets can be reduced by internal balancing in combination with sales and purchase in a pay-as-bid intraday market. Keywords: Wind power; Reservoir hydro; Marginal cost; Balancing; Intraday; Pay-as-bid (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:173:y:2021:i:c:p:675-687 DOI: 10.1016/j.renene.2021.04.001 Access Statistics for this article Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides More articles in Renewable Energy from Elsevier |
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