Hi I am currently working on a Matlab model where I have to write a script for finding MCP for changing fuel prices (dynamic pricing). It is very intersting to understand the dynamics of pricing based on the fluctuations in the weather (wind speeds) as they are intermittent in nature.
Will be great if someone has a suggestion.
dear sandeep, there is no meaning for this since pricing is determined contractually and never on weather ex. gas price is a function of time laged oil price and sometime connected with other factors like inflation... Oil depends on qualitative factors. ..But never On weather Never. explanation is easy (due to uncertainty)
"An Economic Dispatch Model Incorporating Wind Power" Go through this IEEE paper. It may be useful
Article An Economic Dispatch Model Incorporating Wind Power
consider that wind dispatching goes according to each country's regulation
The variable costs of wind and solar resources are almost free?
what are you looking for ??
When you consider a merit order curve of electricity demand and supply, the merit order curve consists of wind, solar energy produced. This is certainly not the LCOE costs but rather the MCP Marginal Cost price of electricity. As we know these renewable energies are free of cost, does the MCP for renewables means the Total cost?
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