Analysis of Wind Power Integration in Electricity Markets LMP Pricing
Optimization and Control
2024-10-16 v1 Systems and Control
Systems and Control
Abstract
Wind energy has emerged as one of the most vital and economically viable forms of renewable energy. The integration of wind energy sources into power grids across the globe has been increasing substantially, largely due to the higher levels of uncertainty associated with wind energy compared to other renewable energy sources. This study focuses on analyzing the Locational Marginal Pricing (LMP) market model, with particular emphasis on the integration of wind power plants into substations. Furthermore, it examines a two-stage stochastic model for electricity markets employing LMP pricing, utilizing the Optimal Power Flow (OPF) method for the analysis.
Keywords
Cite
@article{arxiv.2410.11139,
title = {Analysis of Wind Power Integration in Electricity Markets LMP Pricing},
author = {Narin Nemati and Amin Ahmadi Kasani},
journal= {arXiv preprint arXiv:2410.11139},
year = {2024}
}