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Electricity | Article
Short-term strategies for Dutch wind power producers to reduce imbalance costs
11 March 2016
Authors: CHAVES-ÁVILA, José Pablo; HAKVOORT, Rudi A.; RAMOS, Andrés
The paper assesses bidding strategies for a wind power producer in the Netherlands. To this end, a three-stage stochastic optimization framework is used, maximizing 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 timeframes.
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