Redefining the merit order of stochastic generation in forward markets

Publikation: Bidrag til tidsskriftTidsskriftartikelForskningfagfællebedømt

  • Juan M. Morales
  • Marco Zugno
  • Salvador Pineda Morente
  • Pierre Pinson

This letter proposes a new merit order for the dispatch of stochastic production in forward markets (e.g., day-ahead markets). The proposed merit order considers not only the marginal cost of the stochastic generating unit, which is often very low or zero, but also the projected cost of balancing its energy deviations during the real-time operation of the power system. We show, through an illustrative example, that the proposed merit order leads to increased market efficiency as the penetration of stochastic generation in the electricity market grows.

OriginalsprogEngelsk
Artikelnummer6656976
TidsskriftIEEE Transactions on Power Systems
Vol/bind29
Udgave nummer2
Sider (fra-til)992-993
Antal sider2
ISSN0885-8950
DOI
StatusUdgivet - 1 mar. 2014

ID: 130020937