The DOI matches its Crossref record; 15 of the 15 references it cites were found in a registry or an index.
Evaluating the Impacts of Real-Time Pricing on the Cost and Value of Wind Generation
Open accessAbstract
One of the costs associated with integrating wind generation into a power system is the cost of redispatching the system in real-time due to day-ahead wind resource forecast errors. One possible way of reducing these redispatch costs is to introduce demand response in the form of real-time pricing (RTP), which could allow electricity demand to respond to actual real-time wind resource availability using price signals. A day-ahead unit commitment model with day-ahead wind forecasts and a real-time dispatch model with actual wind resource availability is used to estimate system operations in a high wind penetration scenario. System operations are compared to a perfect foresight benchmark, in which actual wind resource availability is known day-ahead. The results show that wind integration costs with fixed demands can be high, both due to real-time redispatch costs and lost load. It is demonstrated that introducing RTP can reduce redispatch costs and eliminate loss of load events. Finally, social surplus with wind generation and RTP is compared to a system with neither and the results demonstrate that introducing wind and RTP into a market can result in superadditive surplus gains.
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“In this way, the magnitude of the wholesale and the retail prices can be reduced while the price spikes and the volatility of the spot market can be mitigated [110].”
From An overview of Demand Response: Key-elements and international experience (2017) · cites this paper as [110]
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Citations
Cites
A New Approach to Quantify Reserve Demand in Systems With Significant Installed Wind Capacity
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Cited by
Sorted by citations
Benefits and challenges of electrical demand response: a critical review
O׳Connell, N., Pinson, P., Madsen, H., & O׳Malley, M. (2014) · Renewable and Sustainable Energy Reviews · doi:10.1016/j.rser.2014.07.098 · Cited by 636
An overview of Demand Response: Key-elements and international experience
Paterakis, N. G., Erdinç, O., & Catalão, J. P. S. (2017) · Renewable and Sustainable Energy Reviews · doi:10.1016/j.rser.2016.11.167 · Cited by 640
Benefits of Demand Response on Operation of Distribution Networks: A Case Study
Safdarian, A., Fotuhi-Firuzabad, M., & Lehtonen, M. (2016) · IEEE Systems Journal · doi:10.1109/jsyst.2013.2297792 · Cited by 162
Metadata
- Authors
- Sioshansi, R.
- Affiliations
- National Laboratory of the Rockies (US)
- Corresponding author
- Sioshansi, Ramteen
- ORCID
- Sioshansi, Ramteen
- Venue
- IEEE Transactions on Power Systems
- Published
- 2010-05
- Volume
- 25
- Issue
- 2
- Pages
- 741-748
- ISSN
- 0885-8950 (ISSN-L)
- 1558-0679
- OpenAlex
- W2126540864
- Cited by
- 152
- References
- 15
- Citations by year
- 2026: 2 · 2025: 2 · 2024: 2 · 2023: 4 · 2022: 8 · 2021: 3 · 2020: 3 · 2019: 10 · 2018: 6 · 2017: 15 · 2016: 9 · 2015: 15 · 2014: 20 · 2013: 17 · 2012: 16
- FWCI
- 9.52
- Type
- journal article
- Language
- en
- Open access
- green
- www.osti.gov
- Locations
- IEEE Transactions on Power Systems (publishedVersion)
- OSTI OAI (U.S. Department of Energy Office of Scientific and Technical Information) (submittedVersion)
- Funders
- Ohio State University
- Topics
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Electric Power System Optimization
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Smart Grid Energy Management
- Physical Sciences › Engineering › Electrical and Electronic Engineering › Integrated Energy Systems Optimization
- Keywords
- real-time pricing, wind power integration, demand response, wind forecast errors, day-ahead unit commitment, real-time dispatch, social surplus, high wind penetration, electricity market
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