Analysis of the Effect of Different Time Resolutions Between Day-Ahead and Real-Time Markets on Offer Strategies of Wind Power Producers
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Shin, H. | - |
dc.contributor.author | Park, J.-B. | - |
dc.contributor.author | Roh, J.H. | - |
dc.date.accessioned | 2024-02-26T07:00:58Z | - |
dc.date.available | 2024-02-26T07:00:58Z | - |
dc.date.issued | 2023-05-01 | - |
dc.identifier.issn | 1975-0102 | - |
dc.identifier.issn | 2093-7423 | - |
dc.identifier.uri | https://scholarworks.bwise.kr/hongik/handle/2020.sw.hongik/32673 | - |
dc.description.abstract | 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. © 2023, The Author(s) under exclusive licence to The Korean Institute of Electrical Engineers. | - |
dc.format.extent | 12 | - |
dc.language | 영어 | - |
dc.language.iso | ENG | - |
dc.publisher | Korean Institute of Electrical Engineers | - |
dc.title | Analysis of the Effect of Different Time Resolutions Between Day-Ahead and Real-Time Markets on Offer Strategies of Wind Power Producers | - |
dc.type | Article | - |
dc.publisher.location | 대한민국 | - |
dc.identifier.doi | 10.1007/s42835-023-01464-5 | - |
dc.identifier.scopusid | 2-s2.0-85151556048 | - |
dc.identifier.wosid | 000963034500001 | - |
dc.identifier.bibliographicCitation | Journal of Electrical Engineering and Technology, v.18, no.3, pp 1481 - 1492 | - |
dc.citation.title | Journal of Electrical Engineering and Technology | - |
dc.citation.volume | 18 | - |
dc.citation.number | 3 | - |
dc.citation.startPage | 1481 | - |
dc.citation.endPage | 1492 | - |
dc.type.docType | Article | - |
dc.description.isOpenAccess | N | - |
dc.description.journalRegisteredClass | scie | - |
dc.description.journalRegisteredClass | scopus | - |
dc.description.journalRegisteredClass | kci | - |
dc.relation.journalResearchArea | Engineering | - |
dc.relation.journalWebOfScienceCategory | Engineering, Electrical & Electronic | - |
dc.subject.keywordPlus | ENERGY | - |
dc.subject.keywordPlus | OPERATION | - |
dc.subject.keywordPlus | PLANTS | - |
dc.subject.keywordPlus | RISK | - |
dc.subject.keywordAuthor | Electricity markets | - |
dc.subject.keywordAuthor | Market resolutions | - |
dc.subject.keywordAuthor | Two-settlement market | - |
dc.subject.keywordAuthor | Wind power offer | - |
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.
94, Wausan-ro, Mapo-gu, Seoul, 04066, Korea02-320-1314
COPYRIGHT 2020 HONGIK UNIVERSITY. ALL RIGHTS RESERVED.
Certain data included herein are derived from the © Web of Science of Clarivate Analytics. All rights reserved.
You may not copy or re-distribute this material in whole or in part without the prior written consent of Clarivate Analytics.