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

Jan Abrell and Friedrich Kunz

Networks and Spatial Economics, 2015, vol. 15, issue 1, 117-147

Abstract: In northern Europe, wind energy has become a dominate 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, which cannot 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 one week. Two different approaches of considering uncertain wind generation are analyzed and compared to a deterministic approach. The results reveal that the flexibility of generation dispatch is increased either by using more flexible generation technologies or by operating rather inflexible technologies under part-load conditions. Copyright Springer Science+Business Media New York 2015

Keywords: Electricity markets; Unit commitment; Stochasticity; Renewable energy; Transmission network (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (26)

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Working Paper: Integrating Intermittent Renewable Wind Generation: A Stochastic Multi-Market Electricity Model for the European Electricity Market (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:netspa:v:15:y:2015:i:1:p:117-147

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DOI: 10.1007/s11067-014-9272-4

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