Goals

 

The main goal of this dissertation is to propose a methodology that will support a wind farm power producer when bidding in day-ahead electrical energy and balancing reserve markets.

Hence, following the proposed method, the wind farm power producer will be able to decide whether if he should bid for up or down (or both) regulation markets, and if so, how much should he offer, and how much should he bid in the day-ahead electrical energy market.

 

Considering the probability of producing a certain quantity of power for a given period of time and predicting with a certain level of confidence, in which way regulation is going to be required during the same period the offers are created.

 

Therefore, firstly the problem is formulated and implemented on matlab.

 

Afterwards different bidding strategies are analysed and tested on a case study.