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Evaluating alternative offering strategies for wind producers in a pool
- Source :
-
Applied Energy . Dec2011, Vol. 88 Issue 12, p4918-4926. 9p. - Publication Year :
- 2011
-
Abstract
- Abstract: As wind power technology matures and reaches break-even cost, wind producers find it increasingly attractive to participate in pool markets instead of being paid feed-in tariffs. The key issue is then how a wind producer should offer in the pool markets to achieve maximum profit while controlling the variability of such profit. This paper compares two families of offering strategies based, respectively, on a naive use of wind production forecasts and on stochastic programming models. These strategies are compared through a comprehensive out-of-sample chronological analysis based on real-world data. A number of relevant conclusions are then duly drawn. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 03062619
- Volume :
- 88
- Issue :
- 12
- Database :
- Academic Search Index
- Journal :
- Applied Energy
- Publication Type :
- Academic Journal
- Accession number :
- 65230575
- Full Text :
- https://doi.org/10.1016/j.apenergy.2011.06.038