Modelling the Impact of Wind Power Production on Electricity Prices by Regime-Switching Levy Semistationary Processes

2015 ◽  
Author(s):  
Almut Veraart
Keyword(s):  
Wind Power ◽  
Regime Switching ◽  
Power Production ◽  
Electricity Prices ◽  
The Impact

The impact of market coupling on Hungarian and Romanian electricity markets: Evidence from the regime-switching model

2017 ◽  
Vol 28 (5-6) ◽  
pp. 621-638 ◽  
Author(s):  
Vika Koban
Keyword(s):  
Wind Power ◽  
Regime Switching ◽  
Transition Probabilities ◽  
Power Production ◽  
Time Varying ◽  
Electricity Prices ◽  
Regime Switching Model ◽  
Switching Model ◽  
The Impact ◽  
Market Coupling

This paper investigates the impact of market coupling on (1) electricity prices of Hungarian and Romanian markets and (2) the influence of renewable generation on price regimes by employing the Markov regime-switching model with time-varying transition probabilities. The study provides the evidence of the changes in regimes since market coupling. The results show that the persistence and occurrences of Hungarian price drops are significantly increased. Meanwhile, Romanian prices exhibit less and shorter living price jumps. Considering time-varying transition probabilities as functions of wind power production in Romania, the study also reveals that market coupling changed the influence of wind power production on the regime-switching mechanism of electricity prices.

scholarly journals The impact of wind power on electricity prices

2016 ◽  
Vol 94 ◽  
pp. 474-487 ◽  
Author(s):  
Carlo Brancucci Martinez-Anido ◽  
Greg Brinkman ◽  
Bri-Mathias Hodge
Keyword(s):  
Wind Power ◽  
Electricity Prices ◽  
The Impact

scholarly journals The Use of Uncertainty Quantification for the Empirical Modeling of Wind Turbine Icing

2019 ◽  
Vol 58 (9) ◽  
pp. 2019-2032 ◽  
Author(s):  
Jennie Molinder ◽  
Heiner Körnich ◽  
Esbjörn Olsson ◽  
Peter Hessling
Keyword(s):  
Uncertainty Quantification ◽  
Wind Power ◽  
Probabilistic Approach ◽  
Power Production ◽  
Cold Climate ◽  
Empirical Modeling ◽  
Model Ensemble ◽  
Parameter Uncertainties ◽  
Deterministic Sampling ◽  
The Impact

AbstractA novel uncertainty quantification method is used to evaluate the impact of uncertainties of parameters within the icing model in the modeling chain for icing-related wind power production loss forecasts. As a first step, uncertain parameters in the icing model were identified from the literature and personal communications. These parameters are the median volume diameter of the hydrometeors, the sticking efficiency for snow and graupel, the Nusselt number, the shedding factor, and the wind erosion factor. The sensitivity of these parameters on icing-related wind power production losses is examined. An icing model ensemble representing the estimated parameter uncertainties is designed using so-called deterministic sampling and is run for two periods over a total of 29 weeks. Deterministic sampling allows an exact representation of the uncertainty and, in future applications, further calibration of these parameters. Also, the number of required ensemble members is reduced drastically relative to the commonly used random-sampling method, thus enabling faster delivery and a more flexible system. The results from random and deterministic sampling are compared and agree very well, confirming the usefulness of deterministic sampling. The ensemble mean of the nine-member icing model ensemble generated with deterministic sampling is shown to improve the forecast skill relative to one single forecast for the winter periods. In addition, the ensemble spread provides valuable information as compared with a single forecast in terms of forecasting uncertainty. However, addressing uncertainties in the icing model alone underestimates the forecast uncertainty, thus stressing the need for a fully probabilistic approach in the modeling chain for wind power forecasts in a cold climate.

scholarly journals The impact of weather patterns on offshore wind power production

2020 ◽  
Vol 1618 ◽  
pp. 062032
Author(s):  
Bedassa R Cheneka ◽  
Simon J Watson ◽  
Sukanta Basu
Keyword(s):  
Wind Power ◽  
Power Production ◽  
Offshore Wind ◽  
Offshore Wind Power ◽  
Weather Patterns ◽  
The Impact

Regime-Switching of Electricity Prices: Evidence from the PJM Market

2012 ◽  
Author(s):  
Yuewen Xiao ◽  
David B. Colwell ◽  
Ramaprasad Bhar
Keyword(s):  
Regime Switching ◽  
Electricity Prices
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