Participation of wind power producers in intra-day markets : a case-study

ABSTRACT: The evolution of renewable energy has increased substantially over the past decade. Wind power producers (WPPs) can submit bids to energy markets, making short-term commitments to produce specific quantities of energy. This article presents a case-study to analyze the benefits of the active participation of wind power producers in energy markets, particularly intra-day markets. The case-study is carried out with the help of the MATREM system. The preliminary results indicate a reduction of the deviations of WPPs, but also a decreasing in their remuneration. Thus, the results highlight to some extent the importance of new market mechanisms to enable the active participation of WPPs in markets, without support policies.info:eu-repo/semantics/publishedVersio

Diseño de un modelo de simulación para la gestión de riesgos de mercado en Mercados de Energía Eléctrica: caso MVM

El presente trabajo de investigación revisa los métodos y técnicas para la gestión de riesgos financieros de mercado y las variables que son consideradas para tal fin. Tiene como objetivo proponer un modelo de simulación que incluya los elementos requeridos para la gestión de dichos riesgos el cual servirá de apoyo para el mercado eléctrico mayorista de México. Este modelo se utilizará como base para que, en un futuro cercano, MVM Ingeniería de Software S.A.S. desarrolle el módulo o producto a incorporar en la plataforma Energy Suite, permitiendo ampliar el alcance del producto.The present research work reviews the methods and techniques for managing the financial risks of the market and the variables that are considered for that purpose. Its objective is to propose a simulation model that corresponds to the elements required for the management of said risks, which is the support service for the wholesale electricity market in Mexico. This model is used as a basis for the near future, MVM Ingeniería de Software S.A.S. develop the module or product to be incorporated into the Energy Suite platform, to expand the scope of the product.Magíster en Ingeniería de SoftwareMaestrí

Effects of regulating the European Internal Market on the integration of variable renewable energy

ABSTRACT: The new proposal for regulating the European Internal Market for Electricity (EIME) can motivate the harmonization of the various National markets. The process of harmonizing the day-ahead markets (DAMs) is at an advanced stage, with an efficiency in the use of interconnectors of 86%. However, the harmonization of both intraday (IDMs) and balancing markets (BMs) is still in its infancy, with an efficiency in the use of interconnectors of 50 and 19%, respectively. The new proposal brings new targets to DAMs, and European countries should make efforts to comply with them. The same is true for IDMs and BMs, but involving more ambitious targets, requiring higher efforts to be accomplished. Both the analysis of the various National markets (according to their compliance with the new proposal for regulating the EIME) and the advantages of the new proposal for key market participants (particularly, consumers, variable renewable generation, and conventional generation) are presented. The analysis indicates that the proposal contributes to a potential increase of the general welfare of market participants. However, some aspects of the proposal can negatively affect the revenue obtained from the National markets, notably for variable renewable generation and conventional generation. This article is categorized under: Wind Power > Systems and Infrastructure Energy Policy and Planning > Economics and Policy Energy Systems Analysis > Economics and Policy Energy and Development > Economics and Policyinfo:eu-repo/semantics/publishedVersio

Renewable energy support policy based on contracts for difference and bilateral negotiation

ABSTRACT: The European Union has been one of the major drivers of the development of renewable energy. The energy policies of most European countries have involved subsidized tariffs, such as the feed-in tariff in Portugal, the regulated tariff and the market price plus premium in Spain, and the Renewables Obligation in UK, that came into effect in 2002. Recently, UK has made some reforms and started to consider contracts for difference (CfDs) as a key element of the energy policy. This paper presents a support policy based on CfDs and bilateral negotiation. The first phase consists in a CfD auction and the second phase involves a bilateral negotiation between a Government and each of the selected investors. The paper also presents a case-study to analyze the potential benefits of the support policy. It was performed with the help of the MATREM system. The preliminary results indicate some advantages for the Government (and, in some cases, for the investors as well).info:eu-repo/semantics/publishedVersio

Strategies for continuous balancing in future power systems with high wind and solar shares

The use of wind power has grown strongly in recent years and is expected to continue to increase in the coming decades. Solar power is also expected to increase significantly. In a power system, a continuous balance is maintained between total production and demand. This balancing is currently mainly managed with conventional power plants, but with larger amounts of wind and solar power, other sources will also be needed. Interesting possibilities include continuous control of wind and solar power, battery storage, electric vehicles, hydrogen production, and other demand resources with flexibility potential. The aim of this article is to describe and compare the different challenges and future possibilities in six systems concerning how to keep a continuous balance in the future with significantly larger amounts of variable renewable power production. A realistic understanding of how these systems plan to handle continuous balancing is central to effectively develop a carbon-dioxide-free electricity system of the future. The systems included in the overview are the Nordic synchronous area, the island of Ireland, the Iberian Peninsula, Texas (ERCOT), the central European system, and Great Britain

Reputation Computational Model to Support Electricity Market Players Energy Contracts Negotiation

The negotiation is one of the most important phase of the process of buying and selling energy in electricity markets. Buyers and sellers know about their own trading behavior or the quality of their products. However, they can also gather data directly or indirectly from them through the exchange information before or during negotiation, even negotiators should also gather information about past behavior of the other parties, such as their trustworthiness and reputation. Hence, in this scope, reputation models play a more important role in decision-making process in the undertaken bilateral negotiation. Since the decision takes into account, not only the potential economic gain for supported player, but also the reliability of the contracts. Therefore, the reputation component represents the level of confidence that the supported player can have on the opponent’s service, i.e. in this case, the level of assurance that the opponent will fulfil the conditions established in the contract. This paper proposes a reputation computational model, included in DECON, a decision support system for bilateral contract negotiation, in order to enhance the decision-making process regarding the choice of the most suitable negotiation parties.This work has received funding from the European Union’s Horizon 2020 research and innovation programme under the Marie Sklodowska-Curie grant agreement No 641794 (project DREAM-GO) and grant agreement No 703689 (project ADAPT); and from FEDER Funds through COMPETE program and from National Funds through FCT under the project UID/EEA/00760/2013.info:eu-repo/semantics/publishedVersio