<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>An increase in the share of renewable energy sources has an impact on generation variability and generation forecast error, which is also reflected in the formation of the day ahead electric energy market price. This paper analyses the impact of variable renewable energy sources and load forecast on the day ahead German electric energy market. A correlation between the market price, renewable energy sources generation and load forecasts was analysed. Results show that there is a significant correlation between the forecast of renewable energy sources generation as well as the load on day ahead electric energy market price. However, a residual load, which represents the difference between the load and the renewable generation, has the biggest impact on the day ahead price.</p>
</abstract>

An increase in the share of renewable energy sources has an impact on generation variability and generation forecast error, which is also reflected in the formation of the day ahead electric energy market price. This paper analyses the impact of variable renewable energy sources and load forecast on the day ahead German electric energy market. A correlation between the market price, renewable energy sources generation and load forecasts was analysed. Results show that there is a significant correlation between the forecast of renewable energy sources generation as well as the load on day ahead electric energy market price. However, a residual load, which represents the difference between the load and the renewable generation, has the biggest impact on the day ahead price.

Correlation of Day Ahead Electric Energy Market Price with Renewable Energy Sources Generation and Load Forecast

B&H Electrical Engineering

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

An increase in the share of renewable energy sources has an impact on generation variability and generation forecast error, which is also reflected in the...

Correlation of Day Ahead Electric Energy Market Price with Renewable Energy Sources Generation and Load Forecast

Published Online: Oct 26, 2022

Page range: 14 - 20

Received: Sep 01, 2021

Accepted: Nov 01, 2021

DOI: https://doi.org/10.2478/bhee-2021-0013

Keywords
Renewable energy sources, electric load, day-ahead market price, renewables generation forecast, correlation

© 2021 Amer Aščerić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Correlation of Day Ahead Electric Energy Market Price with Renewable Energy Sources Generation and Load Forecast

Published Online: Oct 26, 2022

Page range: 14 - 20

Received: Sep 01, 2021

Accepted: Nov 01, 2021

DOI: https://doi.org/10.2478/bhee-2021-0013

KeywordsRenewable energy sources, electric load, day-ahead market price, renewables generation forecast, correlation

© 2021 Amer Aščerić et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
Renewable energy sources, electric load, day-ahead market price, renewables generation forecast, correlation