Impact of the growing penetration of renewable energy production on the Iberian long-term electricity market

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dc.contributor.authorSantos, Sérgio F.
dc.contributor.authorGough, Matthew
dc.contributor.authorPinto, João P. G. V.
dc.contributor.authorJavadi, Mohammad
dc.contributor.authorOsório, Gerardo J.
dc.contributor.authorSantos, Sérgio F.
dc.date.accessioned2022-02-01T15:37:07Z
dc.date.available2022-02-01T15:37:07Z
dc.date.issued2021-09
dc.description.abstractThe increasing penetration of renewable energy sources in areas with wholesale energy markets may have significant impacts on the prices of electricity within these markets. These renewable energy sources typically have low or zero marginal prices and thus can bid into energy markets at prices that might be below plants using other generating technologies. This work seeks to understand the impact of these zero marginal cost plants in the Iberian Energy Market. This work makes use of an Artificial Neural Network (ANN) to evaluate the impact of growing renewable energy generation on the market-clearing price. Real data from the Iberian Energy Market is chosen and used to train the ANN. The scenarios used for renewable energy generation are taken from the newly published national energy and climate plans for both Spain and Portugal. Results show that increasing penetration of renewable energy leads to significant reductions in the forecasted energy price, showing a price decrease of about 23 €/MWh in 2030 compared to the baseline. Increasing solar PV generation has the largest effect on market prices.pt_PT
dc.identifier.citationSantos, S. F., Gough, M., Pinto, J. P. G. V., Osório, G. J., & Javadi, M. (2021). Impact of the growing penetration of renewable energy production on the Iberian long-term electricity market. In Proceedings of the 21th IEEE International Conference on Environment and Electrical Engineering and 5th IEEE Industrial and Commercial Power Systems Europe (EEEIC 2021 / I&CPS Europe 2021), Bari, Italy, 7-10 September 2021 (pp. 1-6). doi: 10.1109/EEEIC/ICPSEurope51590.2021.9584499. Disponível no Repositório UPT, http://hdl.handle.net/11328/3923pt_PT
dc.identifier.doi10.1109/EEEIC/ICPSEurope51590.2021.9584499pt_PT
dc.identifier.issn978-1-6654-3613-7
dc.identifier.urihttp://hdl.handle.net/11328/3923
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherIEEEpt_PT
dc.relation.publisherversionhttps://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584499pt_PT
dc.rightsrestricted accesspt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectNeural networkspt_PT
dc.subjectElectricity pricept_PT
dc.subjectPrice impactspt_PT
dc.subjectElectricity marketpt_PT
dc.subjectRenewable energypt_PT
dc.titleImpact of the growing penetration of renewable energy production on the Iberian long-term electricity marketpt_PT
dc.typeconferenceObjectpt_PT
degois.publication.firstPage1pt_PT
degois.publication.lastPage6pt_PT
degois.publication.locationBari, Italy, 7-10 September, 2021pt_PT
degois.publication.titleProceedings of the 21th IEEE International Conference on Environment and Electrical Engineering and 5th IEEE Industrial and Commercial Power Systems Europe (EEEIC 2021 / I&CPS Europe 2021)pt_PT
dspace.entity.typePublicationen
person.affiliation.nameREMIT – Research on Economics, Management and Information Technologies
person.affiliation.nameREMIT – Research on Economics, Management and Information Technologies
person.familyNameOsório
person.familyNameSantos
person.givenNameGerardo J.
person.givenNameSérgio F.
person.identifier.ciencia-idBD19-D0AD-65DB
person.identifier.ciencia-idE41A-D6C6-E3D7
person.identifier.gsidt13DoaMAAAAJ
person.identifier.orcid0000-0001-8328-9708
person.identifier.orcid0000-0003-3277-2833
person.identifier.ridC-3616-2014
person.identifier.ridGNM-6353-2022
person.identifier.scopus-author-id54783251300
person.identifier.scopus-author-id56483358000
relation.isAuthorOfPublication7ce5da40-610d-4361-a87f-5cbdfe392256
relation.isAuthorOfPublicationd0a5755c-d682-4ead-bf2a-ce1ad6c63ede
relation.isAuthorOfPublication.latestForDiscovery7ce5da40-610d-4361-a87f-5cbdfe392256

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