Association Webinars: Wind Variability and Impact on Markets



  

 

We discuss the growth of wind in Texas and the challenges to electricity system operation under high levels of wind. We observe that Texas has, by far, the highest wind penetration of the three interconnections in the United States and the highest penetration of any balancing area, so that Texas is a microcosm of high wind challenges. To understand some of the challenges, we describe statistical modeling of wind power production. We utilize a so-called generalized dynamic factor model and investigate the characteristic Kolmogorov spectrum of wind power. This modeling allows understanding of the manner in which wind power and wind power variability will scale with increased capacity. We observe that aggregation of large amounts of wind capacity across large areas of the United States will mitigate short-term variability, but generally will not completely ameliorate intermittency over longer time scales. We then describe implications for the electricity system and for organized wholesale markets, including commitment of thermal resources to meet net load, and zero and negative wholesale prices.

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Speaker:

Ross Baldick is Professor Emeritus in the Department of Electrical and Computer Engineering at The University of Texas at Austin. He received his B.Sc. and B.E. degrees from the University of Sydney, Australia and his M.S. and Ph.D. from the University of California, Berkeley. From 1991-1992 he was a post-doctoral fellow at the Lawrence Berkeley Laboratory. In 1992 and 1993 he was an assistant professor at Worcester Polytechnic Institute. Dr. Baldick has published over 100 refereed journal articles and has research interests in several areas in electric power. His current research involves optimization, economic theory, and statistical analysis applied to electric power system operations and electricity markets, the public policy and technical issues associated with electric transmission under electricity market restructuring, the robustness of the electricity system to terrorist interdiction, electrification of the transportation industry, and the economic and technical implications of integration of renewables. His book, Applied Optimization, emphasizes applications including in electric power. He teaches a three-day short-course “Introduction to Electric Power for Legal, Accounting, and Regulatory Professionals” and a one-day short-course “Locational Marginal Pricing” for non-technical professionals in the electricity industry. He is a former editor of IEEE Transactions on Power Systems and former chairman of the System Economics Sub-Committee of the IEEE Power Engineering Society Power Systems Analysis, Computation, and Economics Committee. He is an Associate Editor of Operations Research. Dr. Baldick is a Fellow of the IEEE and the recipient of the 2015 IEEE PES Outstanding Power Engineering Educator Award.


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Event Date: March 8, 2021

Event Time: 10:00 - 11:00 AM Eastern Time

Topic: Wind Variability and Impact on Markets

Speaker: Ross Baldick

Price: FREE


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