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dc.contributor.authorVandezande, Leen
dc.contributor.authorMeeus, Leonardo
dc.contributor.authorBelmans, Ronnie
dc.contributor.authorSaguan, Marcelo
dc.contributor.authorGlachant, Jean-Michel
dc.date.accessioned2017-12-02T14:43:06Z
dc.date.available2017-12-02T14:43:06Z
dc.date.issued2010
dc.identifier.doi10.1016/j.enpol.2009.07.034
dc.identifier.urihttp://hdl.handle.net/20.500.12127/4619
dc.description.abstractThis article focuses on the design of balancing markets in Europe taking into account an increasing wind power penetration. In several European countries, wind generation is so far not burdened with full balancing responsibility. However, the more wind power penetration, the less bearable for the system not to allocate balancing costs to the responsible parties. Given the variability and limited predictability of wind generation, full balancing exposure is however only feasible conditionally to well-functioning balancing markets. On that account, recommendations ensuring an optimal balancing market design are formulated and their impact on wind generation is assessed. Taking market-based or cost-reflective imbalance prices as the main objective, it is advised that: (1) the imbalance settlement should not contain penalties or power exchange prices, (2) capacity payments should be allocated to imbalanced BRPs via an additive component in the imbalance price and (3) a cap should be imposed on the amount of reserves. Efficient implementation of the proposed market design may require balancing markets being integrated across borders.
dc.language.isoen
dc.subjectEnergy Markets
dc.subjectElectricity Market Design
dc.subjectBalancing Services
dc.subjectWind Power Integration
dc.titleWell-functioning balancing markets: a prerequisite for wind power integration
dc.identifier.journalEnergy Policy
dc.source.volume38
dc.source.issue7
dc.source.beginpage3146
dc.source.endpage3154
vlerick.knowledgedomainSpecial Industries : Energy
vlerick.typearticleJournal article
vlerick.vlerickdepartmentEGS
dc.identifier.vperid40734
dc.identifier.vperid151460
dc.identifier.vperid151626
dc.identifier.vperid162661
dc.identifier.vperid162824
dc.identifier.vpubid5495


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