This paper provides a procedure to forecast electricity pool prices one year ahead. A technique to generate pool price scenarios spanning one year into the future is also provided. The information obtained through the above methodology is crucial to make informed decisions in financial markets...

A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases...

As wind power technology matures and reaches break-even cost, wind producers find it increasingly attractive to participate in pool markets instead of being paid feed-in tariffs. The key issue is then how a wind producer should offer in the pool markets to achieve maximum profit while...