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, NLD. 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.

ORCID iDs

Hamilton, David I. ORCID logoORCID: https://orcid.org/0000-0001-5759-9163, McMillan, David ORCID logoORCID: https://orcid.org/0000-0003-3030-4702 and Catterson, Victoria M. ORCID logoORCID: https://orcid.org/0000-0003-3455-803X;
  • Item type:Book Section
    ID code:59355
    Dates:
    Date
    Event
    29 June 2015
    Published
    1 January 2015
    Accepted
    Notes:© 2015 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
    Subjects:Technology > Engineering (General). Civil engineering (General) > Environmental engineering
    Department:Faculty of Engineering > Electronic and Electrical Engineering
    Depositing user: Pure Administrator
    Date deposited:10 Jan 2017 15:00
    Last modified:11 Nov 2024 14:57
    URI:https://strathprints.strath.ac.uk/id/eprint/59355
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