Posters
Come meet the poster presenters to ask them questions and discuss their work
We would like to invite you to come and see the posters at our upcoming conference. The posters will showcase a diverse range of research topics, and will give delegates an opportunity to engage with the authors and learn more about their work. Whether you are a seasoned researcher or simply curious about the latest developments in your field, we believe that the posters will offer something of interest to everyone. So please join us at the conference and take advantage of this opportunity to learn and engage with your peers in industry and the academic community.
PO389: Market-based setups for wind generation forecasts model
Gabriele Martinelli, Head of European Power Research, LSEG
Abstract
Wind generation forecast models are crucial for analysing, trading and operating in modern power markets. With the recent increase in intermittent renewable generation even small errors might lead to massive losses which often need to be covered in the balancing market and are expensive both for wind farms operators and for system operators. Historical wind generation forecasts models used to rely only on weather parameters like wind speed/direction, temperature and pressure, however with the advent of negative prices and the lack of flexible demand options, wind generation is becoming increasingly price sensitive. This is both the results of the phase out of feed-in tariffs and the advent of auction-based incentives, and also the consequence of strategic bidding from power producers. At the same time, new ML weather models are emerging whose skills are also supporting better renewable forecasts. Based on these considerations, we have developed, tested and productionized wind curtailment models that substantially reduce the error of wind power generation forecasts and incorporate the bidding behaviour in the model. We have further demonstrated how such models reduce the power price forecast errors for day ahead market across multiple geographies.
No recording available for this poster.
