Increasing the Market Value of Wind Power Using Improved Stochastic Process Modeling and Optimization: A Case Study of a Belgian Wind Power Producer

Wind Power Producers (WPP) incur a negative result through mandatory participation on the balancing market. This study analyzes the performance of multiple improved offering strategies for a WPP offering both on the day-ahead market and the balancing market. It does so on revenue, as well as its impact on the grid and electricity market as a...