- Authors:
-
-
Hu, Weihao
;
Close
0000-0003-3816-7263
Electric Power Systems, Department of Energy Technology, The Faculty of Engineering and Science, Aalborg University -
Chen, Zhe
;
Close0000-0002-2919-4481
Department of Energy Technology, The Faculty of Engineering and Science, Aalborg University -
Bak-Jensen, Birgitte
Close0000-0001-8271-1356
Electric Power Systems, Department of Energy Technology, The Faculty of Engineering and Science, Aalborg University
-
Hu, Weihao
;
- DOI:
- 10.1109/PESGM.2012.6344916
- Abstract:
- The Danish power system is currently the grid area in the world that has the largest share of wind power in its generation profiles, with around 20% of its annual consumption generated by wind turbines. In this paper, the Danish power system, which may represent the future of competitive electricity markets in some ways, is chosen as the studied power system. 10 year actual data from the Danish competitive electricity market are collected and analyzed. The relationship among the electricity price (both the spot price and the regulation price), the consumption and the wind power generation in an electricity market is investigated in this paper. The spot price and the regulation price generally decrease when the wind power penetration in the power system increases or the consumption of the power system decreases. The statistical characteristics of the spot price and the regulation price for different consumption periods and wind power penetration are analyzed. Simulation results show that the findings of this paper are useful for wind power generation companies to make the optimal bidding strategy so that the imbalance cost of trading wind power on the electricity market could be reduced.
- ISBN:
- 9781467327275, 9781467327282
- Type:
- Conference paper
- Language:
- English
- Published in:
- Proceedings of the Ieee Power and Energy Society General Meeting, 2012, 2012, p. 1-8
- Keywords:
- : Electricity price , consumption , regulating market , spot market , wind power generation
- Main Research Area:
- Science/technology
- Publication Status:
- Published
- Review type:
- Peer Review
- Conference:
- 2012 IEEE Power and Energy Society General Meeting, 2012
- Publisher:
- IEEE Press
- Submission year:
- 2012
- Scientific Level:
- Scientific
- ID:
- 232634796
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