Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data
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 w...
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| Format: | Article |
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MDPI AG
2018-11-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/11/11/2974 |
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| author | Pedro M. S. Frade João V. G. A. Vieira-Costa Gerardo J. Osório João J. E. Santana João P. S. Catalão |
| author_facet | Pedro M. S. Frade João V. G. A. Vieira-Costa Gerardo J. Osório João J. E. Santana João P. S. Catalão |
| author_sort | Pedro M. S. Frade |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-04-14T03:37:55Z |
| format | Article |
| id | doaj.art-bea7ef9bd0a44d47a6769709838660bc |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-14T03:37:55Z |
| publishDate | 2018-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-bea7ef9bd0a44d47a6769709838660bc2022-12-22T02:14:41ZengMDPI AGEnergies1996-10732018-11-011111297410.3390/en11112974en11112974Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real DataPedro M. S. Frade0João V. G. A. Vieira-Costa1Gerardo J. Osório2João J. E. Santana3João P. S. Catalão4REN—Redes Energéticas Nacionais, SGPS, S.A, Av. dos Estados Unidos da America, 1749-061 Lisbon, PortugalFaculty of Engineering of the University of Porto, 4200-465 Porto, PortugalC-MAST, University of Beira Interior, 6201-001 Covilhã, PortugalINESC-ID, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, PortugalC-MAST, University of Beira Interior, 6201-001 Covilhã, PortugalOvertime, 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.https://www.mdpi.com/1996-1073/11/11/2974electricity market priceselectricity market simulatorinfluenceintraday electricity marketMIBELwind power |
| spellingShingle | Pedro M. S. Frade João V. G. A. Vieira-Costa Gerardo J. Osório João J. E. Santana João P. S. Catalão Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data Energies electricity market prices electricity market simulator influence intraday electricity market MIBEL wind power |
| title | Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data |
| title_full | Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data |
| title_fullStr | Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data |
| title_full_unstemmed | Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data |
| title_short | Influence of Wind Power on Intraday Electricity Spot Market: A Comparative Study Based on Real Data |
| title_sort | influence of wind power on intraday electricity spot market a comparative study based on real data |
| topic | electricity market prices electricity market simulator influence intraday electricity market MIBEL wind power |
| url | https://www.mdpi.com/1996-1073/11/11/2974 |
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