Distributed Reconciliation in Day-Ahead Wind Power Forecasting

Two-Stage Stochastic Day-Ahead Market Clearing in Gas and Power Networks Integrated with Wind Energy

The significant penetration rate of wind turbines in power systems made some challenges in the operation of the systems such as large-scale power fluctuations induced by wind farms. Gas-fired plants with fast starting ability and high ramping can better handle natural uncertainties of wind power compared to other traditional plants. Therefore, the integration of electrical and natural gas syste...

One Day Ahead Stream Flow Forecasting

Optimal Bidding Strategies for Wind Power Producers in the Day-ahead Electricity Market

Wind Power Producers (WPPs) seek to maximize profit and minimize the imbalance costs when bidding into the day-ahead market, but uncertainties in the hourly available wind and forecasting errors make the bidding risky. This paper assumes that hourly wind power output given by the forecast follows a normal distribution, and proposes three different bidding strategies, i.e., the expected profit-m...

Wind Power Forecasting Using Ensembles

Short-term prediction of wind energy is by now an established field of wind power technology. For the last 15 years, our groups have worked in the field and developed short-term prediction models being used operatively at the major Danish utilities since 1996. The next step in the development of the models is to use ensemble forecasts. The ensembles are produced routinely at US NCEP (National C...

Application of a New Hybrid Method for Day-Ahead Energy Price Forecasting in Iranian Electricity Market

Abstract- In a typical competitive electricity market, a large number of short-term and long-term contracts are set on basis of energy price by an Independent System Operator (ISO). Under such circumstances, accurate electricity price forecasting can play a significant role in improving the more reasonable bidding strategies adopted by the electricity market participants. So, they cannot only r...