Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data

• Type: Article in International Scientific Journal
• Date: 2018

Authors

Pedro M. S. Frade (Author) Other; João V. G. A. Vieira Costa (Author) Other; Gerardo J. Osório (Author) Other; João J. E. Santana (Author) Other; João P. S. Catalão (Author) FEUP

Journal

Title: Energies

Vol. 11 No. 11

Pages: 1-19

ISSN: 1996-1073

Publisher: MDPI

Indexing

ISI Web of Knowledge - 7 Citations

Scopus - 12 Citations

Other information

Authenticus ID: P-00P-SW0

DOI: 10.3390/en11112974

Abstract (EN): Overtime, in the electricity sector, there has been a technological transfer to renewable electricity generation. With this change, processes, in the economic and availability terms, are expected to improve. In this new paradigm, society demands electricity without an impact on the environment and with the lowest possible cost. The wind power (WP) integration appears in this evolution process by achieving important technological advances, supporting in 2017 a growth of 44% of new projects in Europe, higher than any other renewable technology. However, the renewable energy sources (RES) integration in the electricity networks still presents technical difficulties and challenges, leading to challenges in the electricity markets (EMs). Therefore, this work evaluates the importance of WP and its influence on the Iberian Electricity Market (MIBEL), at the level of the intraday electricity spot market (IESM). This is an innovative study because literature usually focuses on day-ahead WP impact and this study focuses on intraday markets, which are closer to the consumption periods. The goal was to make an analysis on the impacts when betting on WP sources, in order to improve the market interaction with WP integration, considering as criteria the consumer satisfaction, in terms of lower electricity prices and WP availability. For this study, the market bids registered by the Iberian Electricity Market Operator (OMIE), from 2015 to 2017, ran over a new market simulator, specially developed for this proposal, considering a virtual market condition, but not considering the bids made by WP producers. The comparison of the results allowed the evaluation of the WP influence on the EM quantitative, which is noteworthy.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 19