The Experts below are selected from a list of 327 Experts worldwide ranked by ideXlab platform

Claudia Kemfert - One of the best experts on this subject based on the ideXlab platform.

  • gone with the wind electricity Market Prices and incentives to invest in thermal power plants under increasing wind energy supply
    Energy Economics, 2011
    Co-Authors: Thure Traber, Claudia Kemfert
    Abstract:

    The increased wind energy supplied to many electricity Markets around the world has to be balanced by reliably ramping units or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the Market Prices. While the Market Prices tend to decrease, the impact on the utilization of different plant types is at the outset unclear. To analyze the incentives to invest in thermal power plants under increased wind energy supply, we develop a computational model which includes ramping restrictions and costs and apply it to the German case. We find that due to current wind supply the Market Prices are reduced by more than five percent, and the incentives to invest in natural gas fired units are largely reduced. An increased wind supply erodes their attractiveness further. Consequently, a gap between the need for and the incentive to provide flexibility can be expected.

  • gone with the wind electricity Market Prices and incentives to invest in thermal power plants under increasing wind energy supply
    2009
    Co-Authors: Thure Traber, Claudia Kemfert
    Abstract:

    The increased wind energy supplied to many electricity Markets around the world has to be balanced by reliable back upunits or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the Market Prices. While the Market Prices tend to decrease, the impact on theutilization of different plant types is at the outset unclear. To analyze the incentives to invest in thermal power plants under increased wind energy supply, we develop a computational model which includes start-up restrictions and costs and apply it to the German case. We find that due to current wind supply the Market Prices are reduced by more than five percent, and the incentives to invest in natural gas fired units are largely decreased. An increased wind supply erodes their attractiveness further. Consequently, a gap between the need for and the incentive to provide exibility can be "expected".

Thure Traber - One of the best experts on this subject based on the ideXlab platform.

  • gone with the wind electricity Market Prices and incentives to invest in thermal power plants under increasing wind energy supply
    Energy Economics, 2011
    Co-Authors: Thure Traber, Claudia Kemfert
    Abstract:

    The increased wind energy supplied to many electricity Markets around the world has to be balanced by reliably ramping units or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the Market Prices. While the Market Prices tend to decrease, the impact on the utilization of different plant types is at the outset unclear. To analyze the incentives to invest in thermal power plants under increased wind energy supply, we develop a computational model which includes ramping restrictions and costs and apply it to the German case. We find that due to current wind supply the Market Prices are reduced by more than five percent, and the incentives to invest in natural gas fired units are largely reduced. An increased wind supply erodes their attractiveness further. Consequently, a gap between the need for and the incentive to provide flexibility can be expected.

  • gone with the wind electricity Market Prices and incentives to invest in thermal power plants under increasing wind energy supply
    2009
    Co-Authors: Thure Traber, Claudia Kemfert
    Abstract:

    The increased wind energy supplied to many electricity Markets around the world has to be balanced by reliable back upunits or other complementary measures when wind conditions are low. At the same time wind energy impacts both, the utilization of thermal power plants and the Market Prices. While the Market Prices tend to decrease, the impact on theutilization of different plant types is at the outset unclear. To analyze the incentives to invest in thermal power plants under increased wind energy supply, we develop a computational model which includes start-up restrictions and costs and apply it to the German case. We find that due to current wind supply the Market Prices are reduced by more than five percent, and the incentives to invest in natural gas fired units are largely decreased. An increased wind supply erodes their attractiveness further. Consequently, a gap between the need for and the incentive to provide exibility can be "expected".

Lennart Soder - One of the best experts on this subject based on the ideXlab platform.

  • Modeling real-time balancing power Market Prices using combined SARIMA and Markov processes
    IEEE Transactions on Power Systems, 2008
    Co-Authors: Magnus Olsson, Lennart Soder
    Abstract:

    This paper describes modeling of real-time balancing power Market Prices by using combined seasonal auto regressive integrated moving average (SARIMA) and discrete Markov processes. The combination of such processes allows generation of price series with periods where no demand for balancing power exists. The purpose of the model is simulation of Prices to construct scenario trees representing possible realization of the stochastic Prices. Such scenario trees can be used in planning models based on stochastic optimization to generate bid sequences to the balancing Market. The spread of the Prices in the tree and the shape of the scenarios are of central importance. Model parameter estimation methods reflecting the demands on scenario trees have therefore been used. The proposed model is also applied to data from the Nordic power Market. The conclusion of this paper is that the developed model is appropriate for modeling real-time balancing power Prices.

Magnus Olsson - One of the best experts on this subject based on the ideXlab platform.

  • Modeling real-time balancing power Market Prices using combined SARIMA and Markov processes
    IEEE Transactions on Power Systems, 2008
    Co-Authors: Magnus Olsson, Lennart Soder
    Abstract:

    This paper describes modeling of real-time balancing power Market Prices by using combined seasonal auto regressive integrated moving average (SARIMA) and discrete Markov processes. The combination of such processes allows generation of price series with periods where no demand for balancing power exists. The purpose of the model is simulation of Prices to construct scenario trees representing possible realization of the stochastic Prices. Such scenario trees can be used in planning models based on stochastic optimization to generate bid sequences to the balancing Market. The spread of the Prices in the tree and the shape of the scenarios are of central importance. Model parameter estimation methods reflecting the demands on scenario trees have therefore been used. The proposed model is also applied to data from the Nordic power Market. The conclusion of this paper is that the developed model is appropriate for modeling real-time balancing power Prices.

  • Modeling Real-Time Balancing Power Market Prices
    2008
    Co-Authors: Using Combined Sarima, Magnus Olsson
    Abstract:

    This paper describes modeling of real-time balancing power Market Prices by using combined seasonal auto regressive integrated moving average (SARIMA) and discrete Markov processes. The combination of such processes allows generation of price series with periods where no demand for balancing power exists. The purpose of the model is simulation of Prices to construct scenario trees representing possible realization of the stochastic Prices. Such scenario trees can be used in planning models based on stochastic optimization to generate bid sequences to the balancing Market. The spread of the Prices in the tree and the shape of the scenarios are of central importance. Model parameter estimation methods reflecting the demands on scenario trees have therefore been used. The proposed model is also applied to data from the Nordic power Market. The conclusion of this paper is that the developed model is appropriate for modeling real-time balancing power Prices.

Jakob Zinck Thellufsen - One of the best experts on this subject based on the ideXlab platform.

  • Quantifying the influence of wind power and photovoltaic on future electricity Market Prices
    Energy Conversion and Management, 2019
    Co-Authors: Peter Sorknæs, Søren Roth Djørup, Henrik Lund, Jakob Zinck Thellufsen
    Abstract:

    Abstract Variable renewable electricity sources have been shown to reduce wholesale electricity Market Prices. This is expected to reduce the incentive for investments in new electricity production capacity, and might even make these investments infeasible, if relying only on the income from trade on the current electricity Market paradigms. In this paper, a novel approach for quantifying this effect in future energy systems is developed using a holistic energy system approach. The approach is applied to the case of Denmark in 2015, which is part of the Nordic and Baltic wholesale electricity Market Nord Pool Spot. A holistic energy system model is created and verified according to both the Danish energy balance and the Nord Pool Spot system price in 2015. Using this verified model, the Nord Pool Spot system price is quantified at increasing amounts of onshore wind power, offshore wind power and photovoltaic in Denmark. It is found that regardless of which variable renewable electricity source is implemented, including a combination of the three, the Nord Pool Spot system price decreases as the amount of energy produced by these sources increases, and this effect occurs immediately as more is introduced.