Abstract
Overtime, in the electricity sector, there has been a technological transfer to renewable electricity generation. With this change, processes, in the economic and availability terms, are expected to improve. In this new paradigm, society demands electricity without an impact on the environment and with the lowest possible cost. The wind power (WP) integration appears in this evolution process by achieving important technological advances, supporting in 2017 a growth of 44% of new projects in Europe, higher than any other renewable technology. However, the renewable energy sources (RES) integration in the electricity networks still presents technical difficulties and challenges, leading to challenges in the electricity markets (EMs). Therefore, this work evaluates the importance of WP and its influence on the Iberian Electricity Market (MIBEL), at the level of the intraday electricity spot market (IESM). This is an innovative study because literature usually focuses on day-ahead WP impact and this study focuses on intraday markets, which are closer to the consumption periods. The goal was to make an analysis on the impacts when betting on WP sources, in order to improve the market interaction with WP integration, considering as criteria the consumer satisfaction, in terms of lower electricity prices and WP availability. For this study, the market bids registered by the Iberian Electricity Market Operator (OMIE), from 2015 to 2017, ran over a new market simulator, specially developed for this proposal, considering a virtual market condition, but not considering the bids made by WP producers. The comparison of the results allowed the evaluation of the WP influence on the EM quantitative, which is noteworthy.
Highlights
Electricity production is currently considered a basic human activity since it is already related to many essential human activities, from social, health, security, transmission, and other structures’backgrounds
This aggregation model allows the observation of the influence, in the different time periods, of the wind power (WP) integration’s identified differences
Reflecting the strongest overhead, directly or indirectly, on the production cost of the conventional power plants, it is possible to observe the importance of renewable energy sources (RES) integration, in particular, WP integration, which has a great influence on the reduction of the electricity market price (EMP)
Summary
Electricity production is currently considered a basic human activity since it is already related to many essential human activities, from social, health, security, transmission, and other structures’. Based on the state-of-the-art, and in the same frame of mind as presented in [24,25,26,27], the present study tries to analyze the importance of WP and its influence on MIBEL, at the level of the IESM To this end, the analysis is made attending to the impacts by betting on WP sources, in order to improve the market interaction with WP integration, considering as criteria the consumer satisfaction, in terms of lower electricity prices and the WP availability. The remaining manuscript is structured as follows: Section 2 describes the electricity production and transmission costs; in Section 3, the wind power influence in the MIBEL IESM is described; Section 4 describes and shows the IESM simulation results considering the proposed market simulator model; and in Section 5, the main conclusions of this work are presented
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