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ID:
110744
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| Publication |
2011.
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| Summary/Abstract |
Denmark, east and west of the Great Belt are bidding areas with separate hourly area prices for the Nord Pool power exchange, covering four Nordic countries and parts of Germany. The share of wind power has now increased to 25% on an annual basis in western Denmark. This has a significant impact not only on the electricity wholesale prices, but also on the development of the market. Hourly market data are available from the website of Danish TSO from 1999. In this paper these data are analysed for the period 2004-2010. Electricity generators and customers may respond to hourly price variations, which can improve market efficiency, and a welfare gain is obtained. An important limitation for demand response is events of several consecutive hours with extreme values. The analysis in this paper is a summary and update of some of the issues covered by the EU RESPOND project. It shows that extreme events were few, and the current infrastructure and market organisation have been able to handle the amount of wind power installed so far. This recommends that geographical bidding area for the wholesale electricity market reflects external transmission constraints caused by wind power.
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| 2 |
ID:
191311
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| Summary/Abstract |
Western Denmark is a separate bidding area in the North-Western European power market, Nord Pool. Wind power now exceeds 50% of production annually in Western Denmark. Hourly market data from 1999 onwards are publicly available from the Danish TSO. In this paper, we analyse these data for 2009–2021. Until the energy crisis began in 2021, the Nordic power market has shown relatively stable prices. While extreme events are moderately increasing, the value factor of wind is stable. Thus, the current infrastructure – flexible power plants, interconnectors and electrification of district heating – and market organisation can manage the amount of wind power installed. In other words: 2009–2021 show a well-functioning market economy of dispatch, operating on top of a planned economy of investment.
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