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Assessing the Market Value of Power Forecasting of Hybrid Power Plants in the Iberian Electricity Market
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Resumo(s)
ABSTRACT: This study evaluates the technical and economic performance of wind power plants hybridised with solar photovoltaic (PV) under two 2030 Iberian electricity market scenarios dominated by renewable energy, developed within the Man0EUvRE project. A power forecasting model was optimised to maximise their market value, considering participation in both day-ahead and balancing markets. Compared to wind-only power plants, hybridisation improves forecast accuracy due to the complementary generation profiles of wind and solar PV. As a result, revenue losses due to imbalance penalties decrease by 1528%, enabling the prices captured to increase by up to 6%. The hybrid configurations also achieved the highest market remuneration. However, as the share of low marginal cost technologies increases in the electricity markets, captured prices are expected to decline. These results demonstrate the benefits of hybridising the existing wind power plants, which can provide a short-term and efficient solution to support the ambitious European decarbonisation targets while enhancing both operational performance and their market value.
Descrição
Palavras-chave
Renewable energy Balancing markets Iberian electricity market Hybrid renewable power plants Power forecast
Contexto Educativo
Citação
Couto, A., Graça, P., Sousa, V., & Estanqueiro, A. (2026). Assessing the Market Value of Power Forecasting of Hybrid Power Plants in the Iberian Electricity Market. In: 22nd International Conference on the European Energy Market (EEM2026), Trondheim, Norway, 22–24 June, 2026, pp. 1-6. https://doi.org/10.1109/EEM68581.2026.11589605
Editora
IEEE