Strategic wind energy bidding in adjustment markets

The aim of the paper is to study the optimal participation of wind energy in adjustment markets in order to increase the wind producer revenues, through a stochastic optimization process, which considers the uncertainty of the random variables involved, namely short-term wind power prediction, intraday price prediction and imbalance price. A new modeling of the behavior of up and down imbalance prices in the Spanish market has been developed for this purpose. A comparison against different strategic biddings is included in order to show the income improvement, using as test case the participation of a wind farm in the Spanish electricity market over nearly a year.

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