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Journal Article / Electricity

Short-Term Strategies for Dutch Wind Power Producers to Reduce Imbalance Costs

Author(s): CHAVES-ÁVILA José Pablo, HAKVOORT Rudi, RAMOS Andrés

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ABSTRACT

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.