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Publikācija: Developing an Economically Advantageous Wind Forecasting Method for Electricity Market Design with a 15-Minute Imbalance Settlement Period

Publication Type Full-text conference paper published in conference proceedings indexed in SCOPUS or WOS database
Funding for basic activity Research project
Defending: ,
Publication language English (en)
Title in original language Developing an Economically Advantageous Wind Forecasting Method for Electricity Market Design with a 15-Minute Imbalance Settlement Period
Field of research 2. Engineering and technology
Sub-field of research 2.2 Electrical engineering, Electronic engineering, Information and communication engineering
Research platform Energy and Environment
Authors Līga Kurevska
Tija Sile
Antans Sauļus Sauhats
Keywords imbalance optimization, imbalance settlement period, market design, wind forecasting, renewable energy integration
Abstract According to legal framework developed by European Commission all EU Member States shall employ 15-minute time resolution for imbalance settlement no later than 18th of December 2020 (or 1st of January 2025 in case of derogation). For intermittent energy sources that are traditionally associated with less precise generation forecasts this might result in considerable increase in imbalance costs. This presents a unique challenge for wind power station operators as there is lack of adequate forecasting tools supporting 15-minute time-resolution. The objective of this paper is to test and provide comparative analysis of alternative data interpolation methods in order to determine approach associated with the lowest mid-term imbalance costs for wind power station operators. The results of this study support wind power station operators and grid operators in transition towards 15-minute imbalance settlement period.
Reference Kurevska, L., Sile, T., Sauhats, A. Developing an Economically Advantageous Wind Forecasting Method for Electricity Market Design with a 15-Minute Imbalance Settlement Period. In: The 16th International Conference on the European Energy Markets, Slovenia, Ljubljana, 18-20 September, 2019. Ljubljana: EEM, 2019, pp.1-5.
Additional information Citation count:
  • Scopus  0
ID 30055