Analysis of the Effect of Different Time Resolutions Between Day-Ahead and Real-Time Markets on Offer Strategies of Wind Power Producers

被引：0
作者：
Hunyoung Shin
Jong-Bae Park
Jae Hyung Roh
机构：
[1] Hongik University,Department of Electronics and Electrical Engineering
[2] Konkuk University,Department of Electrical and Electronics Engineering
来源：
Journal of Electrical Engineering & Technology | 2023年 / 18卷
关键词：
Wind power offer; Electricity markets; Market resolutions; Two-settlement market;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
The wholesale electricity market in the United States have a two-settlement structure, with a day-ahead (DA) market and a real-time (RT) market. The purpose of this study is to investigate how the different temporal resolutions of these markets affect the profit and offer decisions of wind power producers (WPPs). We have found that WPP can accurately assess expected returns and build advanced proposal curves that allow for higher expected returns by taking differences in time resolution into account. In the numerical example employing ERCOT data samples, such an increase in return is calculated as up to 1.6%. Moreover, it has been shown that the shape of offer curves are quite different depending on a time resolution used to produce the curves. However, in order to obtain these benefits, WPP must forecast wind and market prices with resolutions finer than an hour, which may entail increased forecast error variance and overfitting issues.
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页码：1481 / 1492
页数：11
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