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Wind power participation in frequency regulation: a profitability assessment for Sweden
RISE Research Institutes of Sweden, Safety and Transport, Measurement Technology.ORCID iD: 0000-0002-4173-1390
RISE Research Institutes of Sweden, Safety and Transport, Measurement Technology.ORCID iD: 0000-0003-3608-5264
2023 (English)Report (Other academic)
Abstract [en]

In this report, a framework was developed to assess the profits from participating in the different ancillary services for frequency regulation in Sweden. The framework considers forecasting errors on both production and prices, market clearing times and technical requirements of the difference ancillary services. The framework was applied to evaluate potential profits for a real wind power plant of 2 MW in SE3 in 2020 and 2021. The economic analysis points out to aFRR down as the most profitable market today with additional revenue of as much as 35% compared to day-ahead only in case of perfect production forecasts, and as much as 22 % with consideration of standard production forecast errors. It is also shown that developing bidding strategies based on price forecasting to act on several ancillary service market may increase the revenues by up to 70% compared to day-ahead only. Future work in the topic includes evaluating the profits in other price areas and evaluating different production and price forecast methodologies and their impact on the profits.

Place, publisher, year, edition, pages
2023.
Series
RISE Rapport ; 2022:42
Keywords [en]
Wind power, frequency regulation, ancillary services markets, FFR, FCRN, FCR-D, mFRR, aFRR, profitability assessment
National Category
Energy Systems
Identifiers
URN: urn:nbn:se:ri:diva-64365ISBN: 978-91-89561-80-9 (electronic)OAI: oai:DiVA.org:ri-64365DiVA, id: diva2:1751691
Available from: 2023-04-19 Created: 2023-04-19 Last updated: 2025-09-23Bibliographically approved

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Type fulltextMimetype application/pdf

Authority records

Hamon, CamillePersson, Mattias

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf