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Erschienen in:
2014 | OriginalPaper | Buchkapitel
6. Impact of Stochastic Renewable Energy Generation on Market Quantities
verfasst von : Juan M. Morales, Antonio J. Conejo, Henrik Madsen, Pierre Pinson, Marco Zugno
Erschienen in: Integrating Renewables in Electricity Markets
Verlag: Springer US
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Abstract
Electricity generation from stochastic renewable energy sources, such as wind and solar power, has a non-negligible impact on electricity markets. The origins of that impact relate to the economical aspects of stochastic renewable energy in electricity markets (the socalled merit-order effect), the variability and predictability of their power output, as well as the nonlinear and bounded nature of the electric power generation process itself. The way this impact materializes for the case of different market quantities (e.g., dayahead prices, system imbalance magnitude and direction, etc.) is further analyzed, while the underlying mechanisms are presented. Methodologies for the empirical analysis of that impact are finally described and applied to the case of the Nord Pool market in Scandinavia.