Abstract
The subject matter of this book is inspired by the fact that today’s power systems are experiencing an increasing penetration of renewable energy sources that are nondispatchable—their output cannot or can only partly be modulated upon request—and stochastic—their production cannot be perfectly predicted in advance. Against this background, the operational practices that, for many decades, have governed the functioning of power systems are now to be challenged and revisited to accommodate the uncertain and variable nature of these energy sources. This first chapter motivates the operational problems dealt with in this book by providing a brief overview of the main challenges originated from the growing integration of stochastic and intermittent generation in current electric energy systems.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Baldick, R.: Wind and energy markets: a case study of Texas. IEEE Syst. J. 6(1), 27–34 (2012)
Borenstein, S.: The trouble with electricity markets: Understanding California’s restructuring disaster. J. Econ. Perspect. 16(1), 191–211 (2002)
Burke, D.J., O’Malley, M.J.: Maximizing firm wind connection to security constrained trasnmission networks. IEEE Trans. Power Syst. 25(2), 749–759(2010)
Conejo, A.J., Morales, J.M., Martínez, J.A.: Tools for the analysis and design of distributed resources—Part III: Market studies. IEEE Trans. Power Deliv. 26(3), 1663–1670 (2011)
DeMeo, E.A., Jordan, G.A., Kalich, C., King, J., Milligan, M.R., Murley, C., Oakleak, B., Schuerger, M.J.: Accommodating wind’s natural behavior. IEEE Power & Energy Mag. 5(6), 68–77 (2007)
Denholm, P., Ela, E., Kirby, B., Milligan, M.: The role of energy storage with renewable electricity generation. Tech. Rep. NREL/TP-6A2-47187, National Renewable Energy Laboratory (NREL) (2010)
Denny, E., O’Malley, M.: Wind generation, power system operation, and emissions reduction. IEEE Trans. Power Syst. 21(1), 341–347 (2006)
Denny, E., O’Malley, M.: Quantifying the total net benefits of grid integrated wind. IEEE Trans. Power Syst. 20(2), 605–615 (2007)
Global Wind Energy Council: Global wind report. Annual market update 2012. http://www.gwec.net/publications/global-wind-report-2/ (2013). Accessed 10 May 2013
Holttinen, H.: Impact of hourly wind power variations on the system operation in the Nordic countries. Wind Energy 8(2), 197–218 (2005)
Kirschen, D.S., Strbac, G.: Fundamentals of Power System Economics. Wiley, Chichester (2004)
MIBEL: Iberian Electricity Market. http://www.mibel.com (2013). Accessed 13 May 2013
Morales, J.M., Conejo, A.J., Pérez-Ruiz, J.: Economic valuation of reserves in power systems with high penetration of wind power. IEEE Trans. Power Syst. 24(2), 900–910 (2009)
Morales, J.M., Conejo, A.J., Pérez-Ruiz, J.: Short-term trading for a wind power producer. IEEE Trans. Power Syst. 25(1), 554–564 (2010)
Morales, J.M., Pinson, P., Madsen, H.: A transmission-cost-based model to estimate the amount of market-integrable wind resources. IEEE Trans. Power Syst. 27(2), 1060–1069 (2012)
Morales, J.M., Conejo, A.J., Liu, K., Zhong, J.: Pricing electricity in pools with wind producers. IEEE Trans. Power Syst. 27(3), 1366–1376 (2012)
Pepermans, G., Driesen, J., Haeseldonckx, D., Belmans, R., D’haeseleer, W.: Distributed generation: Definition, benefits and issues. Energy Policy 33(6), 787–798 (2005)
Pickard, W.F., Shen, A.Q., Hansing, N.J.: Parking the power: Strategies and physical limitations for bulk energy storage in supply–demand matching on a grid whose input power is provided by intermittent sources. Renew. Sust. Energ. Rev. 13(8), 1934–1945 (2009)
Pritchard, G., Zakeri, G., Philpott, A.: A single-settlement, energy-only electric power market for unpredictable and intermittent participants. Oper. Res. 58(4), 1210–1219 (2010)
Schleicher-Tappeser, R.: How renewables will change electricity markets in the next five years. Energy Policy 48, 64–75 (2012)
Schweppe, F.C., Tabors, R.D., Caraminis, M., Bohn, R.E.: Spot Pricing of Electricity. Kluwer, Norwell (1988)
Stoft, S.: Power System Economics: Designing Markets for Electricity. Wiley–IEEE Press, New York (2002)
Torriti, J., Hassan, M.G., Leach, M.: Demand response experience in Europe: Policies, programmes and implementation. Energy 35(4), 1575–1583 (2010)
Weber, C.: Adequate intraday market design to enable the integration of wind energy into the European power systems. Energy Policy 38(7), 3155–3163 (2010)
Weron, R.: Modeling and Forecasting Electricity Loads and Prices: A Statistical Approach. Wiley, Chichester (2006)
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2014 Springer Science+Business Media New York
About this chapter
Cite this chapter
Morales, J., Conejo, A., Madsen, H., Pinson, P., Zugno, M. (2014). Introduction. In: Integrating Renewables in Electricity Markets. International Series in Operations Research & Management Science, vol 205. Springer, Boston, MA. https://doi.org/10.1007/978-1-4614-9411-9_1
Download citation
DOI: https://doi.org/10.1007/978-1-4614-9411-9_1
Published:
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4614-9410-2
Online ISBN: 978-1-4614-9411-9
eBook Packages: Business and EconomicsBusiness and Management (R0)