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• W3136118294 abstract "The market illiquidity and inflexible demand response (DR) participation are within the main restrictions in today's existing intra-day (ID) market. This paper proposes a modified ID market which enables direct transactions of updated forecast information regarding power deviations instead of trading deviated power. The modification brings about no significant challenges for participants as suppliers still submit offers revealing the quantity of power deviations despite the deviated power would be settled in real-time (RT) market, while purchasers decide on the optimal behaviors in RT market based on their own judgment on RT market prices with the purchased information instead of directly offsetting the deviated power of suppliers. The flexibility of DR participation could be promoted since DR providers as purchasers no longer have to bid when the ID offers arrive, because the information sold to others would not be removed from the order book and could be purchased by multiple participants. As a result, the modified ID market attracts more participants, and the more purchasers there are, the lower costs each purchaser will pay, thus the market liquidity could be improved. Finally, only effective information can be paid to suppliers so they are restrained from untruthfully revealing the actual forecast when submitting offers and improvement on wind power forecast accuracy can be encouraged. Case studies further illustrate the feasibility and efficiency of the modified ID market." @default.
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• W3136118294 date "2021-04-01" @default.
• W3136118294 modified "2023-10-11" @default.
• W3136118294 title "A Modified Intra-Day Market to Trade Updated Forecast Information for Wind Power Integration" @default.
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• W3136118294 doi "https://doi.org/10.1109/tste.2020.3031587" @default.
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