Abstract
Over recent years the deployment of renewable energy generation capacities has constantly increased. The production of renewable energy sources, such as wind and solar power, cannot be controlled but only forecasted with limited accuracy. However, electricity generation is, generally, traded through competitive market platforms that require to define the production schedule from hours to days prior to the delivery of energy. Moreover, eventual deviations from contracted generation may cause financial penalties for the producers. Renewable energy producers can hedge such penalties by optimally exploiting the forecast information available. The aim of this chapter is to discuss optimal market strategies for renewable energy producers, focusing on the resulting market value of forecast information.
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