What is it about?
In this paper, we have focused on the electricity market design for high wind penetrated power systems. The risky power has been proposed as the merchandise that could be traded in an intraday market. Then, an intraday risky power market has been designed to enable the wind farms to manage the real-time power mismatches while decreasing their energy curtailment and increasing their profit. In addition, it let the system operator reduce the cost of second by second balance of the load and generation in the real-time by wielding cheaper generation technologies. Game theory has been employed to model the decision making of strategic energy companies competing in the day-ahead, intraday, and real-time markets.
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Why is it important?
High wind penetrated markets require a redesign to put up with the intermittency of the wind farms. Risky power market design eases the adjustment for wind power, decrease the energy curtailment, and increase their profit. while it informs the system operator about the mismatches that may occur in the real-time beforehand.
Perspectives
I hope that this novel intraday market design gives us a little stake in future carbon-free society. It eases up the management of real-time power mismatches for the wind farms, on an intraday basis. Moreover, it is a market-based approach that reduces real-time green energy curtailment.
Mazaher Haji Bashi
Isfahan University of Technology
Read the Original
This page is a summary of: Impacts of Intraday Risky Power Trades on the High Wind Penetrated Electricity Markets, IET Generation Transmission & Distribution, June 2019, the Institution of Engineering and Technology (the IET),
DOI: 10.1049/iet-gtd.2018.6458.
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