Please use this identifier to cite or link to this item: http://repositorio.inesctec.pt/handle/123456789/1773
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dc.contributor.authorHrvoje Kekoen
dc.contributor.authorJianhui Wangen
dc.contributor.authorRicardo Jorge Bessaen
dc.contributor.authorVladimiro Mirandaen
dc.contributor.authorAudun Botteruden
dc.date.accessioned2017-11-16T12:48:05Z-
dc.date.available2017-11-16T12:48:05Z-
dc.date.issued2010en
dc.identifier.urihttp://repositorio.inesctec.pt/handle/123456789/1773-
dc.description.abstractThis paper discusses risk management, contracting, and bidding for a wind power producer. A majority of the wind power in the United States is sold on long-term power purchase agreements, which hedge the wind power producer against future price risks. However, a significant amount is sold as merchant power and therefore is exposed to fluctuations in future electricity prices (day-ahead and real-time) and potential imbalance penalties. Wind power forecasting can serve as a tool to increase the profit and reduce the risk from participating in the wholesale electricity market. We propose a methodology to derive optimal day-ahead bids for a wind power producer under uncertainty in realized wind power and market prices. We also present an initial illustrative case study from a hypothetical wind site in the United States, where we compare the results of different day-ahead bidding strategies. The results show that the optimal day-ahead bid is highly dependent on the expected dayahead and real-time prices, and also on the risk preferences of the wind power producer. A deviation penalty between dayahead bid and real-time delivery tends to drive the bids closer to the expected generation for the next dayen
dc.languageengen
dc.relation4882en
dc.relation4811en
dc.relation208en
dc.rightsinfo:eu-repo/semantics/embargoedAccessen
dc.titleRisk Management and Optimal Bidding for a Wind Power Produceren
dc.typeconferenceObjecten
dc.typePublicationen
Appears in Collections:CPES - Articles in International Conferences

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