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Optimisation of the bidding strategy for wind power trading

Hamilton, David I. and McMillan, David and Catterson, Victoria M. (2015) Optimisation of the bidding strategy for wind power trading. In: PowerTech, 2015 IEEE Eindhoven. IEEE. ISBN 9781479976935

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Abstract

The optimal bidding strategy for trading electricity from a wind farm is not always clear. This paper outlines a method for predicting whether the market will be long or short and uses this information to select the best quantile regression for the current market conditions. Results from a simulation with a 2.5MW turbine produced a savings of over £2,000 compared to using only a P50 forecaster.