Keywords: wind power, electricity market, forecasting, support mechanisms, renewable energy, Austria, wind energy, market integration, Central Europe
Influence of market rules on the economic value of wind power: an Austrian case study
Currently, wind power faces heterogeneous conditions for market integration throughout Europe, given both differing wind power and power system characteristics as well as according regulatory frameworks. This paper discusses marketing options and assesses the influence of market rules on the economic value of wind power for an Austrian case study. Special emphasis is thereby put on options for short-term wind power forecasting and trade. Results indicate that market integration can be improved considerably by implementing continuous day-ahead markets in Central European Countries as a first step. Under such framework conditions also simple forecast approaches provide a significant added value.