Analysis of Wind Power Integration in Electricity Markets LMP Pricing

2024/10/14 by Narin Nemati, Nemati, Narin, Amin Ahmadi Kasani +1
Energy · Engineering · #FOS: Electrical engineering #FOS: Mathematics #Optimization and Control (math.OC) #Power Systems and Renewable Energy #Power Systems and Technologies #Smart Grid and Power Systems #Systems and Control (eess.SY) #electronic engineering #information engineering

paper · pdf · doi:10.48550/arxiv.2410.11139

openalex publication_date 2024/10/14 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28

Abstract

Wind energy has emerged as one of the most vital and economically viable forms of renewable energy. The integration of wind energy sources into power grids across the globe has been increasing substantially, largely due to the higher levels of uncertainty associated with wind energy compared to other renewable energy sources. This study focuses on analyzing the Locational Marginal Pricing (LMP) market model, with particular emphasis on the integration of wind power plants into substations. Furthermore, it examines a two-stage stochastic model for electricity markets employing LMP pricing, utilizing the Optimal Power Flow (OPF) method for the analysis.

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