Journal Article / Electricity
Short-Term Strategies for Dutch Wind Power Producers to Reduce Imbalance Costs
The paper assesses bidding strategies for a wind power producer in the Netherlands. To this end, a three-stage stochastic optimisation framework is used, maximising wind power producer's profit using the day-ahead and cross-border intraday market, taking into account available interconnection capacity. Results show that the wind power producer can increase its profits by trading on the intraday market and – under certain imbalance prices – by intentionally creating imbalances. It has been considered uncertainties about prices, power forecast and interconnection capacity at the day-ahead and intraday time frames.