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Internal hydro- and wind portfolio optimisation in real-time market operations - ScienceDirect
Source: sciencedirect.com
Article summary:
1. This paper examines the potential benefits of shifting from plant-specific schedules to a common load requirement for wind and hydropower units in the same price area.
2. It evaluates how internal handling of complementary imbalances within the same river system with high inflow uncertainty and constrained reservoirs can reduce volatility in short-term marginal cost and risk compared to trading in the intraday market.
3. The paper proposes a method for evaluating the benefits of internal balancing in combination with the intraday market, which is applied on a case study.
Article analysis:
The article “Internal hydro- and wind portfolio optimisation in real-time market operations” provides an overview of how power producers can manage combined portfolios of wind and hydropower, as well as how they can benefit from internal coordination for planning and balancing these portfolios. The article is written by experts in the field, making it reliable and trustworthy.
The article does not present any biases or one-sided reporting, as it presents both sides equally when discussing different market structures such as pay-as-bid versus marginal cost markets. It also provides evidence for its claims by citing relevant research papers that support its arguments.
However, there are some points that could be explored further, such as the potential risks associated with algorithmic based bidding or other forms of automated trading systems, which are only briefly mentioned in the article. Additionally, there is no discussion about possible counterarguments or alternative solutions to managing combined portfolios of wind and hydropower that could be explored further.
In conclusion, this article is generally reliable and trustworthy due to its expert authorship and evidence provided for its claims. However, there are some points that could be explored further to provide a more comprehensive overview of managing combined portfolios of wind and hydropower.