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| 1 |
ID:
166735
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| Summary/Abstract |
Our paper investigates the effect of wind and utility-scale solar electricity generation on wholesale electricity prices in Australia over 2010–2018. We use both high frequency (30-min) and daily datasets for the Australian National Electricity Market (NEM). We estimate autoregressive distributed lag models (ARDL) to decompose the merit order effect of wind and utility-scale solar PV generation over time and across states. We find that an extra GW of dispatched wind capacity decreases the wholesale electricity price by 11 AUD/MWh at the time of generation, while solar capacity by 14 AUD/MWh. The daily merit order effect is lower. We show that the wind merit order effect has been increasing as a function of dispatched wind capacity over time. Despite of this, wholesale electricity prices in Australia have been increasing, predominantly driven by the increase in natural gas prices. Our findings further strengthen the evidence of the merit order effect of renewable energy sources, with important implications for the current energy policy debate in Australia.
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| 2 |
ID:
132622
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2014.
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| Summary/Abstract |
This study explores different practices for accelerating the integration of generating facilities to the electricity network using smart solutions. Case studies from Great Britain, Republic of Ireland and Northern Ireland, and the Unites States of America were selected. The paper assesses and compares the different Principles of Access that have been implemented in these countries, such as Last-in First-out (LIFO), Pro Rata and Market-Based. The social optimality of these approaches is also discussed. The paper also evaluates how the risk (regarding curtailment and investment) is allocated between parties (distribution network operators, generators and customers). Even though the cases are diverse, important findings and lessons have been identified which may assist distribution network operators to address the issue of increasing the connection of distributed generation while managing efficiently and economically energy exports from generators.
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| 3 |
ID:
096622
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2010.
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| Summary/Abstract |
This paper evaluates the impact of intermittent wind generation on hourly equilibrium prices and output, using data on expected wind generation capacity and demand for 2020. Hourly wind data for the period 1993-2005 are used to obtain wind output generation profiles for thirty regions (onshore and offshore) across Great Britain. Matching the wind profiles for each month to the actual hourly demand (scaled to possible 2020 values), we find that the volatility of prices will increase, and that there is significant year-to-year variation in generators' profits. Above-average wind speeds lead to below-average prices, but annual revenues for British wind generators (producing more in the winter) are almost as great as for base-load generators. In the presence of significant market power (the equivalent of two symmetric firms owning fossil-fuelled capacity, rather than six), the level of prices more than doubled, and their volatility increased. However, wind generators' average revenues rose by 20% less than those of base-load plant.
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| 4 |
ID:
097463
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2010.
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| Summary/Abstract |
This paper evaluates the impact of intermittent wind generation on hourly equilibrium prices and output, using data on expected wind generation capacity and demand for 2020. Hourly wind data for the period 1993-2005 are used to obtain wind output generation profiles for thirty regions (onshore and offshore) across Great Britain. Matching the wind profiles for each month to the actual hourly demand (scaled to possible 2020 values), we find that the volatility of prices will increase, and that there is significant year-to-year variation in generators' profits. Above-average wind speeds lead to below-average prices, but annual revenues for British wind generators (producing more in the winter) are almost as great as for base-load generators. In the presence of significant market power (the equivalent of two symmetric firms owning fossil-fuelled capacity, rather than six), the level of prices more than doubled, and their volatility increased. However, wind generators' average revenues rose by 20% less than those of base-load plant.
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| 5 |
ID:
096103
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2010.
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| Summary/Abstract |
We explore the optimal size of the transmission line from distant wind farms, modeling the tradeoff between transmission cost and benefit from delivered wind power. We also examine the benefit of connecting a second wind farm, requiring additional transmission, in order to increase output smoothness. Since a wind farm has a low capacity factor, the transmission line would not be heavily loaded, on average; depending on the time profile of generation, for wind farms with capacity factor of 29-34%, profit is maximized for a line that is about 3/4 of the nameplate capacity of the wind farm. Although wind generation is inexpensive at a good site, transmitting wind power over 1600 km (about the distance from Wyoming to Los Angeles) doubles the delivered cost of power. As the price for power rises, the optimal capacity of transmission increases. Connecting wind farms lowers delivered cost when the wind farms are close, despite the high correlation of output over time. Imposing a penalty for failing to deliver minimum contracted supply leads to connecting more distant wind farms.
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| 6 |
ID:
171473
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| Summary/Abstract |
This paper analyzes the recent expansion of transmission lines in Texas, essentially completed in 2013 at a cost of approximately $7 billion. This project was intended to improve access to areas with high wind generation potential and the resulting increase in wind generation reduced fuel costs and emissions from the displaced fossil fuel generators. I find that the value of the resulting emissions reduction from additional wind generation is approximately twice that of the fuel savings. Additionally, when incorporating the value of reduced emissions, increased generation from already existing wind turbines alone could offset about half of the annualized cost of this transmission expansion while using only 2% of the new transmission capacity. Incorporating the value of emissions reductions could make extending transmission lines to access high quality wind resources more viable, especially if production from already-existing wind turbines in the area are being non-trivially curtailed, as was true in this case.
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| 7 |
ID:
105818
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2011.
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| Summary/Abstract |
Hydrogen production via electrolysis has been proposed as a way of absorbing the fluctuating electricity generated by wind power, potentially allowing the use of cheap electricity at times when it would otherwise be in surplus. We show that large-scale adoption of electrolysers would change the shape of the load-duration curve for electricity, affecting the optimal capacity mix. Nuclear power stations will replace gas-fired power stations, as they are able to run for longer periods of time. Changes in the electricity capacity mix will be much greater than changes to the pattern of prices. The long-run supply price of hydrogen will thus tend to be insensitive to the amount produced.
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