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High penetration wind generation impacts on spot prices in the Australian national electricity market
Authors:Nicholas J Cutler  Nicholas D Boerema  Iain F MacGill  Hugh R Outhred
Affiliation:1. School of Electrical Engineering and Telecommunications and Centre for Energy and Environmental Markets, University of New South Wales 2052, Sydney, Australia;2. School of Photovoltaic and Renewable Energy Engineering and Centre for Energy and Environmental Markets, University of New South Wales, Sydney, Australia;3. School of Electrical Engineering and Telecommunications, University of New South Wales, Sydney, Australia
Abstract:This paper explores wind power integration issues for the South Australian (SA) region of the Australian National Electricity Market (NEM) by assessing the interaction of regional wind generation, electricity demand and spot prices over 2 recent years of market operation. SA's wind energy penetration has recently surpassed 20% and it has only a limited interconnection with other regions of the NEM. As such, it represents an interesting example of high wind penetration in a gross wholesale pool market electricity industry. Our findings suggest that while electricity demand continues to have the greatest influence on spot prices in SA, wind generation levels have become a significant secondary influence, and there is an inverse relationship between wind generation and price. No clear relationship between wind generation and demand has been identified although some periods of extremely high demand may coincide with lower wind generation. Periods of high wind output are associated with generally lower market prices, and also appear to contribute to extreme negative price events. The results highlight the importance of electricity market and renewable policy design in facilitating economically efficient high wind penetrations.
Keywords:Wind power integration  Market price  Electricity demand
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