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Assessing the future economic performance of wind generation in conjunction with compressed air energy storage in the new proposed Irish electricity market

Economics and Business Letters

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Title Assessing the future economic performance of wind generation in conjunction with compressed air energy storage in the new proposed Irish electricity market
 
Creator Cleary, Brendan; School of Civil and Structural Engineering and Dublin Energy Lab, Dublin Institute of Technology, Bolton St., Dublin 1, Ireland
 
Description The Integrated Single Electricity Market (I-SEM) is the proposed wholesale electricity market for Ireland and it is intended to replace the current market by the end of 2017.  Under the I-SEM, wind generation will be exposed to forecast risk and the requirement to be balance responsible.  The use of Compressed Air Energy Storage (CAES) could represent a better system configuration which would reduce the reliance on expensive generation for system balancing and reduce the financial risk to wind generation.   Thus, the aim of this paper is to estimate the future economic performance of wind generation with and without CAES, in the I-SEM.  Specifically, the day-ahead and balancing mechanism system marginal prices are estimated under the I-SEM for various scenarios. 
 
Publisher Oviedo University Press
 
Contributor The author would like to express his appreciation to Dublin Institute of Technology for funding this research through the Fiosraigh Dean of Graduate Research School Award 2011
Furthermore, the author would like to express his appreciation to Energy Exemp
 
Date 2015-07-02
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Format application/pdf
 
Identifier http://www.unioviedo.es/reunido/index.php/EBL/article/view/10774
10.17811/ebl.4.3.2015.87-97
 
Source Economics and Business Letters; Vol 4, No 3 (2015): September - Special Issue Energy demand forecasting; 87-97
Economics and Business Letters; Vol 4, No 3 (2015): September - Special Issue Energy demand forecasting; 87-97
2254-4380
10.17811/ebl.4.3.2015
 
Language eng
 
Relation http://www.unioviedo.es/reunido/index.php/EBL/article/view/10774/10533
http://www.unioviedo.es/reunido/index.php/EBL/article/downloadSuppFile/10774/651
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