scholarly journals On the impact of increasing penetration of variable renewables on electricity spot price extremes in Australia

2020 ◽  
Vol 67 ◽  
pp. 67-86 ◽  
Author(s):  
Alan Rai ◽  
Oliver Nunn
Keyword(s):  
Spot Price ◽  
Electricity Spot Price ◽  
The Impact

scholarly journals On the Impact of Wind Feed-in and Interconnections on Electricity Price in Germany

2017 ◽  
Vol 23 (1) ◽  
Author(s):  
Francois Benhmad ◽  
Jacques Percebois
Keyword(s):  
Wind Power ◽  
Order Effect ◽  
Spot Price ◽  
Spot Markets ◽  
Spot Prices ◽  
Electricity Spot Markets ◽  
High Penetration ◽  
Electricity Spot Price ◽  
Electricity Grids ◽  
The Impact

In this paper, we explore carry out an empirical analysis for Germany, as a country with high penetration of wind energy, to investigate the interaction between the well-known merit-order effect, i.e., falling spot price levels as well as highly fluctuating spot prices and the European electricity grids inteconnections,i.e., market coupling.Our main empirical findings suggest that wind power in-feed decreases electricity spot price level but increases spot prices volatility. Furthermore, the relationship between wind power and spot electricity prices can be strongly impacted by European electricity grids interconnection which behaves like a safety valve lowering volatility and limiting the price decrease. Therefore, the impacts of wind generated electricity on electricity spot markets areless clearly pronounced in interconnected systems

A Critical Empirical Study of Three Electricity Spot Price Models

2011 ◽  
Author(s):  
Fred Espen Benth ◽  
Ruediger Kiesel ◽  
Anna Nazarova
Keyword(s):  
Empirical Study ◽  
Spot Price ◽  
Electricity Spot Price

Permutation Min-Entropy and Statistical Complexity Analysis of Electricity Spot Price

2015 ◽  
Vol 14 (04) ◽  
pp. 1550040 ◽  
Author(s):  
Qingju Fan ◽  
Dan Li
Keyword(s):  
Temporal Dynamics ◽  
Complexity Analysis ◽  
Spot Price ◽  
Temporal Correlations ◽  
Price Series ◽  
Statistical Complexity ◽  
Electricity Spot Price ◽  
Insight Into ◽  
Refined Classification

In this study, we investigate the subtle temporal dynamics of California 1999–2000 spot price series based on permutation min-entropy (PME) and complexity-entropy causality plane. The dynamical transitions of price series are captured and the temporal correlations of price series are also discriminated by the recently introduced PME. Moreover, utilizing the CECP, we provide a refined classification of the monthly price dynamics and obtain an insight into the stochastic nature of price series. The results uncover that the spot price signal presents diverse temporal correlations and exhibits a higher stochastic behavior during the periods of crisis.

scholarly journals High-Resolution Electricity Spot Price Forecast for the Danish Power Market

2020 ◽  
Vol 12 (10) ◽  
pp. 4267 ◽  
Author(s):  
Jannik Schütz Roungkvist ◽  
Peter Enevoldsen ◽  
George Xydis
Keyword(s):  
Electricity Market ◽  
Thermal Power ◽  
Power Market ◽  
Power Production ◽  
Spot Price ◽  
Price Forecasting ◽  
Learning Approaches ◽  
Electricity Prices ◽  
Price Forecast ◽  
Electricity Spot Price

Energy markets with a high penetration of renewables are more likely to be challenged by price variations or volatility, which is partly due to the stochastic nature of renewable energy. The Danish electricity market (DK1) is a great example of such a market, as 49% of the power production in DK1 is based on wind power, conclusively challenging the electricity spot price forecast for the Danish power market. The energy industry and academia have tried to find the best practices for spot price forecasting in Denmark, by introducing everything from linear models to sophisticated machine-learning approaches. This paper presents a linear model for price forecasting—based on electricity consumption, thermal power production, wind production and previous electricity prices—to estimate long-term electricity prices in electricity markets with a high wind penetration levels, to help utilities and asset owners to develop risk management strategies and for asset valuation.

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