Rethinking the Role of Financial Transmission Rights in Wind-Rich Electricity Markets in the Central U.S.
Join the Berkeley Lab presenting their research:
In the United States, most wind power capacity has been deployed in the wind-rich central region. Transmission congestion within this large region causes spatial variation in wholesale power prices—called the basis—that can unpredictably reduce wind plant revenue and, hence, possibly slow deployment. We use historical pricing and generation data from three central U.S. markets to show that wind plants are more-susceptible than thermal generators to congestion-related basis risk. Moreover, while most thermal generators can effectively hedge any basis risk by purchasing conventional financial transmission rights (FTRs), these fixed-volume FTRs are not a good match for variable wind generation.
More-effective hedging mechanisms—for example, an FTR whose volume varies with wind plant output—may be required to support those generators most-impacted by congestion, and to promote continued investment in variable generation resources in congested markets.
Date and Time
Location
Hosts
Registration
- Date: 07 Feb 2023
- Time: 12:00 PM to 01:00 PM
- All times are (UTC-06:00) Central Time (US & Canada)
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Add Event to Calendar
1. Register for a free 1 hour webinar with the authors on February 7, 2023, at Noon CT.
Berkeley Lab Zoom Registration link
2. Please also "Register Now" for this IEEE event (below) so we may see who attends from IEEE Cedar Rapids Section and beyond.
- Starts 24 January 2023 07:00 PM
- Ends 07 February 2023 12:00 PM
- All times are (UTC-06:00) Central Time (US & Canada)
- No Admission Charge
Speakers
Rethinking the Role of Financial Transmission Rights in Wind-Rich Electricity Markets in the Central U.S.
This report will be presented by Berkeley Lab people.
Access the January 2023 report now, here: https://emp.lbl.gov/publications/rethinking-role-financial
Address:United States
Agenda
Noon - 1PM CST Program presents on Zoom.