Redefining the merit order of stochastic generation in forward markets
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Redefining the merit order of stochastic generation in forward markets. / Morales, Juan M.; Zugno, Marco; Pineda Morente, Salvador; Pinson, Pierre.
I: IEEE Transactions on Power Systems, Bind 29, Nr. 2, 6656976, 01.03.2014, s. 992-993.Publikation: Bidrag til tidsskrift › Tidsskriftartikel › Forskning › fagfællebedømt
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TY - JOUR
T1 - Redefining the merit order of stochastic generation in forward markets
AU - Morales, Juan M.
AU - Zugno, Marco
AU - Pineda Morente, Salvador
AU - Pinson, Pierre
PY - 2014/3/1
Y1 - 2014/3/1
N2 - This letter proposes a new merit order for the dispatch of stochastic production in forward markets (e.g., day-ahead markets). The proposed merit order considers not only the marginal cost of the stochastic generating unit, which is often very low or zero, but also the projected cost of balancing its energy deviations during the real-time operation of the power system. We show, through an illustrative example, that the proposed merit order leads to increased market efficiency as the penetration of stochastic generation in the electricity market grows.
AB - This letter proposes a new merit order for the dispatch of stochastic production in forward markets (e.g., day-ahead markets). The proposed merit order considers not only the marginal cost of the stochastic generating unit, which is often very low or zero, but also the projected cost of balancing its energy deviations during the real-time operation of the power system. We show, through an illustrative example, that the proposed merit order leads to increased market efficiency as the penetration of stochastic generation in the electricity market grows.
KW - Bilevel programming
KW - merit order
KW - renewable energy
KW - stochastic generation
KW - stochastic programming
U2 - 10.1109/TPWRS.2013.2288015
DO - 10.1109/TPWRS.2013.2288015
M3 - Journal article
AN - SCOPUS:84897614679
VL - 29
SP - 992
EP - 993
JO - IEEE Transactions on Power Systems
JF - IEEE Transactions on Power Systems
SN - 0885-8950
IS - 2
M1 - 6656976
ER -
ID: 130020937