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Title Tools supporting wind energy trade in deregulated markets
Author Linnet, Ulfar
Supervisor Madsen, Henrik (Department of Informatics and Mathematical Modeling, Technical University of Denmark, DTU, DK-2800 Kgs. Lyngby, Denmark)
Nielsen, Henrik Aalborg (Department of Informatics and Mathematical Modeling, Technical University of Denmark, DTU, DK-2800 Kgs. Lyngby, Denmark)
Institution Technical University of Denmark, DTU, DK-2800 Kgs. Lyngby, Denmark
Thesis level Master's thesis
Year 2005
Abstract A large share of the wind energy produced in Scandinavia is sold at deregulated electricity markets. The main market, Elspot, is a day-ahead market where energy is sold up to 36 hours before delivery. Failure in delivering exactly the quantity which was sold results in a ne, called regulation cost. As wind energy comes from an uncontrollable energy source - the wind - producers can not always full their sales obligations and must, therefore, often pay high regulation costs. In this thesis it is examined how producers can increase their prot by bidding on the market in such a way that the regulation cost is minimised. The methods developed rely on new production forecasts which provide better probabilistic information about the prediction uncertainty than many forecasting systems currently in use. The problem is formulated in two dierent ways. One, originally presented by John B. Bremnes, where only a part of the market is included, gives a simple method that can be applied using only statistical tools. The other method is more exible at the cost of complexity. It uses both statistics and stochastic programming. This method can be changed and applied in other markets with a structure dierent from that of the Scandinavian market, NordPool.
Imprint Department of Informatics and Mathematical Modeling, Technical University of Denmark, DTU : DK-2800 Kgs. Lyngby, Denmark
Fulltext
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Admin Creation date: 2006-06-22    Update date: 2012-12-17    Source: dtu    ID: 185906    Original MXD