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Managing the risk of trading wind energy in a competitive market

Galloway, S. and Bell, G. and Siewierski, T. and Burt, G.M. and McDonald, J.R. (2006) Managing the risk of trading wind energy in a competitive market. IEE Proceedings Generation Transmission and Distribution, 153 (1). pp. 106-114. ISSN 1350-2360

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Abstract

There is a high level of financial risk associated with the direct participation of wind generation in liberalised electricity markets, due to the stochastic nature of output and imbalance charges set by market prices. The positioning of generation with respect to the market is therefore critical to successful trading activities. Examined is the use of risk characterisation to select the best output level for a wind generator to trade, dependant on maximising revenue and managing marginal costs from imbalances in a competitive market situation. Trading strategies based on utility risk assessment are presented as a possible way to improve market participation for wind generators based on these criteria.

Item type: Article
ID code: 3506
Keywords: wind energy, power systems, energy distribution, energy market, Electrical engineering. Electronics Nuclear engineering, Electrical and Electronic Engineering
Subjects: Technology > Electrical engineering. Electronics Nuclear engineering
Department: Faculty of Engineering > Electronic and Electrical Engineering
Unknown Department
Professional Services > Corporate Services Directorate
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 18 Jun 2007
    Last modified: 04 Sep 2014 13:38
    URI: http://strathprints.strath.ac.uk/id/eprint/3506

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