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Impact of wind electricity forecasts on bidding strategies

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Impact of wind electricity forecasts on bidding strategies

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dc.contributor.author Ballester, Cristina
dc.contributor.author Furió Ortega, María Dolores
dc.date.accessioned 2022-05-11T06:28:09Z
dc.date.available 2022-05-12T04:45:06Z
dc.date.issued 2017 es_ES
dc.identifier.citation Ballester C, Furió D. Impact of Wind Electricity Forecasts on Bidding Strategies. Sustainability. 2017; 9(8):1318. es_ES
dc.identifier.uri https://hdl.handle.net/10550/82714
dc.description.abstract The change in the generation mix from conventional electricity sources to renewables has important implications for bidding behaviour and may have an impact on prices. The main goal of this work is to discover the role played by expected wind production, together with other relevant factors, in explaining the day-ahead market price through a data panel model. The Spanish market, given the huge increase in wind generation observed in the last decade, has been chosen for this study as a paradigmatic example. The results obtained suggest that wind power forecasts are a new key determinant for supply market participants when bidding in the day-ahead market. We also provide a conservative quantification of the effect of such trading strategies on marginal prices at an hourly level for a specific year in the sample. The consequence has been an increase in marginal price to levels higher than what could be expected in a context with notable wind penetration. Therefore, the findings of this work are of interest to practitioners and regulators and support the existence of a wind risk premium embedded in electricity prices to compensate for the uncertainty of wind production. es_ES
dc.language.iso en es_ES
dc.subject day-ahead electricity market es_ES
dc.subject renewables es_ES
dc.subject strategic bidding es_ES
dc.title Impact of wind electricity forecasts on bidding strategies es_ES
dc.type journal article es_ES
dc.subject.unesco UNESCO::CIENCIAS ECONÓMICAS es_ES
dc.identifier.doi 10.3390/su9081318 es_ES
dc.accrualmethod S es_ES
dc.embargo.terms 0 days es_ES

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