E alua ion o he Impac o he Feed-in Gene a ion in
he P ices o he Ibe ian Elec ici y Ma ke in 2013
Ped o P. Gonçal es
DEEC/FEUP – Faculdade de Engenha ia da Uni . do Po o
Rua D . Robe o F ias, 4200 465 Po o, Po ugal
ee09103@ e.up.p
João Tomé Sa ai a
DEEC/FEUP – Faculdade de Engenha ia da Uni . do Po o
Rua D . Robe o F ias, 4200 465 Po o, Po ugal
[email p o ec ed]
Abs ac — Powe indus y has been deeply es uc u ed in
ecen decades. Along his pe iod e ically in eg a ed s uc u es
e ol ed o mo e disagg ega ed models in which some ac i i ies
a e now p o ided unde compe i ion as gene a ion and e ailing
while some o he s a e p o ided unde egula ed monopolies as
ne wo k ansmission and dis ibu ion. Simul aneously, mos
coun ies s a ed o encou age he use o enewable sou ces,
namely o cope wi h en i onmen al issues and o enla ge he
ene gy independency. Ha ing in mind hese ideas and gi en he
de elopmen o he Ibe ian Elec ici y Ma ke and he inc ease
o he ins alled capaci y in uni s paid by eed-in a i s, i
becomes impo an o es ima e he impac o his eed-in
gene a ion in he ma ke p ices. This pape desc ibes he
app oach ha was de eloped o es ima e his impac and he
implemen ed so wa e applica ion. This applica ion was hen
used o e alua e he impac on p ices on all ading hou s o
2013 o he Po uguese pho o ol aic gene a ion, he Po uguese
wind gene a ion, all he Po uguese eed-in gene a ion and also
all he Ibe ian eed-in gene a ion.
Index Te ms-- Elec ici y ma ke s, Ibe ian Elec ici y Ma ke ,
eed-in gene a ion.
I. I
NTRODUCTION
The inc easing sha e o eed-in gene a ion in he
gene a ion mix o Po ugal and Spain makes i impo an o
e alua e he impac o he p esence o his ype o gene a ion
in he p ices o he Ibe ian Elec ici y Ma ke , MIBEL. In
Po ugal, Special Regime Gene a ion, SRG, includes wind,
pho o ol aic, co-gene a ion, biomass as well as small hyd os
ill 10 MVA o ins alled capaci y. SRG di e s om No mal
Regime Gene a ion, NRG, in wha conce ns he emune a ion
and he dispa ch. SRG is paid by eed-in a i s ha depend
on he echnologies in he sense ha hese a i s include a so
called en i onmen al e m ha is echnology dependen .
Di e en ly, NRG es ablishes bila e al con ac s o bids on
MIBEL day-ahead ma ke being paid a he pool ma ke
p ices. NRG includes all mo e adi ional powe s a ions as
coal and na u al gas s a ions as well as la ge hyd os. Apa
om he emune a ion, he e is ano he impo an dis inc ion
be ween SRG and NRG. In ac , he legal s a us o SRG
ensu es ha all he gene a ed elec ici y is accep ed in he
ne wo ks while NRG bids on he pool ma ke and so i may
e en ually no ope a e.
Al hough no subjec o a ma ke bid based dispa ch, he
o ecas ed SRG gene a ion is aken in o accoun by he
Ma ke Ope a o when building he agg ega ed selling cu es
o he nex day. In ac , SRG gene a ion supplies demand
and i is ob ious ha mo e SRG gene a ion means ha less
demand is a ailable o be supplied by NRG. In o de o
conside he SRG in he ma ke cu es, o each hou o he
nex day a ze o p ice segmen is included in he agg ega ed
selling cu e hus en o cing i s dispa ch [1]. On he o he
hand, including hese ze o p ice segmen s co esponds o shi
o he igh he selling cu e ha includes he bids om NRG
hus con ibu ing o lowe he inal ma ke p ice.
The impac o SRG in he pool p ices was es ima ed
conside ing se e al scena ios in which we assume ha ze o
p ice segmen s associa ed o speci ic SRG echnologies a e
elimina ed om he clea ing p ocess, ha is, om he ma ke
cu es p o ided by he Ma ke Ope a o . A e doing his, he
ma ke p ice o each hou is compu ed again assuming ha
he demand cu e emained unchanged. In o de o au oma e
hese calcula ions i was de eloped an applica ion in VBA
(Visual Basic o Applica ions) ha uses he da a abou he
buying and selling bids aken om he Ibe ian Ma ke
Ope a o webpage, builds he ma ke cu es, elimina es he
SRG selec ed by he use and ecalcula es he ma ke p ice
o he pe iod unde analysis. This applica ion was used o
es ima e he impac o SRG on he hou ly p ices along 2013
conside ing ou scena ios: wi hou Po uguese pho o ol aic
gene a ion, wi hou Po uguese wind gene a ion, wi hou all
Po uguese SRG gene a ion and wi hou all Po uguese and
Spanish SRG. This esea ch was de eloped in he scope o
he MSc Thesis p epa ed by he i s au ho and submi ed
and app o ed a he Faculdade de Engenha ia da
Uni e sidade do Po o by Ma ch 2015 [2].
Acco ding o hese ideas, his pape is s uc u ed as
ollows. A e his In oduc ion, Sec ion II p o ides an
o e iew on he ading pla o ms o MIBEL, Sec ion III
de ails he algo i hm ha was implemen ed o es ima e he
men ioned impac o SRG on he ma ke p ices and Sec ion
IV p esen s he esul s ha we e ob ained o 2013. Finally,
Sec ion V d aws he mos ele an conclusions.
II. I
BERIAN
E
LECTRICITY
M
ARKET
-
MIBEL
The es uc u ing o elec ici y indus y in Eu opean
coun ies o igina ed he de elopmen o se e al egional
ma ke s. In his scope, he Ibe ian Elec ici y Ma ke was
c ea ed in 2007 in ol ing Po ugal and Spain and i includes
wo ading ope a o s – he OMIE co esponding o an en i y
ha is physically loca ed in Spain and ha manages he day
ahead and he in aday ma ke s and he OMIP, physically
loca ed in Po ugal and in cha ge o longe e m ades and
inancial mechanisms [3].
The daily ma ke ope a es in e ms o a symme ic and
olun ee day-ahead mechanism ha admi s bo h selling and
buying bids. The ading pe iod is 1 hou and selling en i ies
can submi simple bids in e ms o pai s (a ailable quan i y;
minimum selling p ice) as well as complexi y condi ions,
namely inc easing and dec easing amps and a minimum
e enue o be ob ained along he ading day. Fo each ading
hou o he nex day, he ma ke ope a o builds he
agg ega ed selling and buying cu es and ob ains he clea ed
quan i y and he ma ke p ice in he in e sec ion o hese
cu es. Then, i checks whe he complexi y condi ions a e
alid and i no i i e a es he p ocedu e in oducing changes in
he ini ial schedule [4, 5]. In gene al, his co esponds o
elimina e selling bids associa ed wi h iola ed cons ain s, as
o ins ance he minimum e enue equi emen . This
elimina ion means ha cheap ini ially clea ed bids a e no
conside ed in he nex i e a ion and so he emaining
agg ega ed cu e is shi ed o he le side de e mining a
p og essi e p ice inc ease as he clea ing p ocedu e de elops.
Apa om he day ahead ading pla o m, he ma ke
ope a o also manages an in aday ma ke ha cu en ly has 6
sessions as a way o adjus he selling o buying posi ions
close o he ope a ion hou .
Fo he las wen y yea s se e al coun ies adop ed
policies o induce in es men s in enewable gene a ion
(namely wind pa ks, small hyd os’s, pho o ol aic´s and
biomass uni s) and in non- enewable uni s as cogene a ion as
a way o use mo e in ensi ely endogenous esou ces and o
con ibu e o inc ease he ene gy independency. Among he
mos success ul coun ies owa ds his objec i e, Po ugal and
Spain inc eased his ype o capaci y o 6.500 MW ou o
18.000 MW in Po ugal and o 35.000 MW ou o 102.000
MW in Spain. Rega ding he gene a ion om hese sou ces,
in Po ugal i co esponded o a alue close o 40 % in 2012
( om which 25% om wind pa ks) while in Spain i eached
38% o he o al ( om which 20% om wind pa ks). I is
impo an o no ice ha hese alues do no include he
gene a ion om la ge hyd o s a ions. I hese s a ions a e
conside ed, hen in 2013 60% o he Po uguese demand was
supplied by enewables, 20% by coal s a ions and 15% by
CCGT s a ions while he emaining 5% we e impo s.
As i s legal designa ion sugges s, he huge capaci y
inc ease o Special Regime Gene a ion, SRG, is ce ainly due
o he pa icula ules ha we e adop ed o pay he gene a ion
om hese uni s. In Po ugal he i s legisla ion o ame he
ope a ion o hese uni s was passed in 1988 and i cu en ly
co esponds o a eed-in mechanism in which he inal p ice
depends on a oided in es men and ope a ion cos s and on an
en i onmen al echnology dependen e m. The a oided
in es men and ope a ion cos s a e ob ained ega ding he
adi ional he mal uni s ha a e no necessa y o build and
ope a e, CCGT in his case. Finally, he en i onmen al e m
p izes cleane o s ill less ma u e echnologies. As a esul ,
he a e age p ice paid o wind pa ks is cu en ly close o 80
€/MWh and is abo e 200 €/MWh o small pho o ol aic uni s.
In Spain SRG gene a ion can op be ween a egula ed eed-in
a i o ecei ing he ma ke p ice plus a p ize ha
co esponds o a pe cen age o a egula ed e e ence alue.
Figu e 1. Mon hly esul s o he Ibe ian Elec ici y Ma ke in 2008: da k blue
- a e age p ice in Spain (€/MWh); ed – a e age p ice in Po ugal (€/MWh);
ligh blue – aded ene gy (GWh) (sou ce OMIE web page).
Figu e 2. Mon hly esul s o he Ibe ian Elec ici y Ma ke in 2013: da k blue
- a e age p ice in Spain (€/MWh); ed – a e age p ice in Po ugal (€/MWh);
o ange – aded ene gy in MIBEL (GWh); ligh blue – ade ene gy plus
bila e al con ac s (GWh) (sou ce OMIE web page).
The impac o such la ge olumes o SRG gene a ion is
e y impo an , namely conside ing ha he a e age p ice in
he day ahead ma ke common o Po ugal and Spain is
ypically below he eed in a i le els o he di e en SRG
echnologies, namely o wind. Fo example, Figu e 1 shows
he mon hly e olu ion o he a e age ma ke p ice in Po ugal
and in Spain in 2008. In his yea , he a e age ma ke p ice
was 69,98 €/MWh in Po ugal and 64,43 €/MWh in Spain,
sugges ing ha ma ke spli ing was equen and ha
conges ion occu ed in he di ec ion om Spain o Po ugal.
In 2013, he a e age ma ke p ices declined o 43,37
€/MWh in Po ugal and o 44,26 €/MWh in Spain, ha is
38% and 31% below he alues o 2008 in he wo coun ies.
I is impo an o no ice ha in 2013 he wo a e age p ices
a e much close compa ed o 2008 sugges ing ha conges ion
was a e (in ac i occu ed in less o 15% o he hou s in
2013) and ha when ma ke spli ing was ac i a ed i was
applied mo e equen ly in he di ec ion om Po ugal o
Spain.
Gi en he le el o SRG eed in gene a ion, i is clea ha
he p esence o his gene a ion has a s ong impac on he
inal p ices. Al hough no being paid he hou ly ma ke p ice,
SRG es ima es a e conside ed in he ma ke clea ing o each
hou o he nex day because hey con ibu e o balance he
supply and he demand. In p ac ice, ze o p ice segmen s a e
added o he selling bid cu e co esponding o he es ima ed
hou ly SRG gene a ion. As a esul , when SRG gene a ion is
la ge he ma ke p ices decline and less adi ional he mal
gene a o s a e clea ed. This ul ima ely means ha he o al
numbe o hou s hese he mal gene a o s ope a e has been
declining hus educing hei income.
III. E
STIMATION OF THE
I
MPACT OF
SRG
As men ioned be o e, SRG gene a ion mus be conside ed
when building he agg ega ed hou ly ma ke cu es in o de
o balance he global demand and gene a ion. This is done
including in he selling agg ega ed cu e ze o p ice segmen s
wi h quan i ies based on he es ima es o each hou o he
nex day o he gene a ion o each SRG echnology. I is
he e o e clea ha in pe iods in which SRG gene a ion is
la ge he selling bid cu e om o he gene a ion agen s and
echnologies shi s o he igh side and so he ma ke p ice
ge s educed. On he con a y, i o ins ance wind gene a ion
( he mos ele an SRG) is small hen he co esponding ze o
p ice segmen is less ex ended, he elec ici y p ice inc eases
and mo e he mal selling bids a e accep ed. I a e y windy
pe iod occu s oge he wi h la ge hyd o in lows (as i is
ypical in No embe ill Ma ch/Ap il) hen ma ke p ices
ha e sha p declines and can con inuously be a 0,00 €/MWh
o se e al hou s as i occu ed in Ma ch and Ap il 2013. As
an example, in he 9
h
o Ap il 2013 he ma ke p ices we e
less han 1,00 €/MWh o 19 hou s o ha day, and du ing 13
o which he p ice was 0,00 €/MWh.
Figu e 3. Agg ega ed selling and buying cu es o he Ibe ian elec ici y
ma ke o hou 1 o Ma ch 12, 2013 (sou ce OMIE web page).
Figu e 3 illus a es his impac showing he selling and
buying cu es o hou 1 o Ma ch 12 2013. A his hou he
ma ke p ice was 0,00 €/MWh as a esul o he in e sec ion
o he buying (blue) and selling ( ed) cu es. The 0,00
€/MWh selling bid segmen amoun s o 32.000 MWh
esul ing om abou 7.000 MWh om nuclea s a ions,
13.000 MWh om hyd o s a ions and 12.000 MWh om
wind pa ks. I his 12.000 MWh segmen was no p esen ,
hen he selling cu e would be shi ed o he le as
illus a ed by he black line and so he ma ke p ice would
inc ease om 0,00 o abou 38,00 €/MWh. This illus a es he
impac o he SRG subsidized gene a ion in he ma ke p ice
and in he schedule. Apa om he educ ion o he ma ke
p ice, conside ing he SRG 0,0 p ice segmen in he selling
cu e educes he numbe o accep ed bids om he mal
gene a o s. Globally, he income ob ained by he mal s a ions
is educed no only because he ma ke p ice ge s educed bu
also because he numbe o hou s hey a e dispa ched also
ge s smalle . As a consequence, he numbe o ope a ion
hou s o combined cycle powe s a ions ( he ma ginal
echnology in mos pe iods) is ge ing mo e and mo e educed
in ecen yea s and only some coal s a ions a e dispa ched.
Using his easoning, we analysed he impac o SRG
gene a ion on he ma ke p ices du ing he en i e yea o 2013
conside ing he ollowing ou cases:
i = 1 Clea ing p ocess no conside ing he wind
gene a ion loca ed in Po ugal;
i = 2 Clea ing p ocess no conside ing he pho o ol aic
gene a ion loca ed in Po ugal;
i = 3 Clea ing p ocess no conside ing all he SRG
gene a ion loca ed in Po ugal. This includes no
only wind and pho o ol aic, bu also small hyd os,
cogene a ion, biomass and esidue powe s a ions;
i = 4 Clea ing p ocess no conside ing all he SRG
gene a ion om bo h Po ugal and Spain.
In o de o es ima e he impac on he p ices i was
necessa y o know he gene a ion alues o each o hese
ou cases o each hou o 2013. These hou ly alues o
each SRG echnology we e p o ided by EDP Ges ão da
P odução SA, he la ges Po uguese gene a ion company.
Then, o a pa icula case i=1 o 4 and o a pa icula
hou k o 2013 he nex s eps we e ollowed:
1. in he i s place, he da a ega ding he submi ed and
he accep ed selling and buying bids was downloaded
om he web page o he Ibe ian Ma ke Ope a o
(www.omie.es). Le us also assume ha ik,SRG
P is he
SRG gene a ion associa ed wi h case i o hou k. Fo
ins ance, o i=1 i co esponds o he gene a ed powe
om wind pa ks loca ed in Po ugal in hou k;
2. secondly, he o al amoun o powe bid a 0,00 €/MWh
a hou k was ob ained adding all he powe om ze o
p ice bids. Le us deno e his 0,00 p ice powe quan i y
as
To alk,00,0
P
;
3. hen, he selling bid o
To alk,00,0
P a 0,00 €/MWh was
elimina ed om ha da a downloaded in 1. and
subs i u ed by a bid a 0,00 €/MWh wi h powe gi en
by
ik,SRGTo alk,00,0
PP −. When building he new
agg ega ed selling cu e his means ha he o iginal
selling cu e is shi ed o he le side by ik,SRG
P;
4. using he downloaded da a and conside ing he change
in oduced in s ep 3 on he selling bids a 0,00 €/MWh,
i is sol ed he linea op imiza ion p oblem gi en by
(1-4) o maximize he Social Wel a e Func ion, SWF.
This p oblem was sol ed using he linp og unc ion o
he Op imiza ion Toolbox o Ma Lab®.
This p ocedu e was applied o he MIBEL esul s o he
hou s wi hou conges ion and o he Po uguese a ea esul s
o conges ed hou s.
max

=

=
−= G
N
1i
i
Pg.
i
Cg
D
N
1j
j
Pd.
j
CdZ
(1)
subjec
máx
j
Pd
j
Pd0 ≤≤
(2)
máx
i
Pg
i
Pg0 ≤≤
(3)

=

=
=G
N
1i
i
Pg
D
N
1j
j
Pd
(4)
In his o mula ion
j
Cd
and
i
Cg
a e he buying and
selling p ices,
max
j
Pd
and
max
i
Pg
a e he maximum
demand and gene a ion bid quan i ies,
j
Pd
and
i
Pg
a e he demand and gene a ion a he inal solu ion
and
D
N
and
G
N
a e he numbe o buying and
selling bids. The objec i e unc ion Z in (1) is subjec
o limi s on he demand (2) and on he gene a ion (3)
bids and o he demand / supply balance equa ion (4).
In his simula ion we did no conside he selling bids
ha we e emo ed by he Ma ke Ope a o along he
i e a i e clea ing p ocess o check he complexi y
cons ain s, as desc ibed in he second pa ag aph o
Sec ion II;
5. once he abo e p oblem is sol ed o case i and hou
k, he dual a iable o he powe balance equa ion (4)
co esponds o he new ma ke clea ing p ice.
In o de o enable analyzing a ull yea in an au oma ed
way i was implemen ed an applica ion in VBA (Visual Basic
o Applica ions) ha allows he use o selec he pe iod unde
analysis and he simula ion o pe o m in e ms o he SRG
echnology o analyse. The applica ion au oma ically assesses
he Ma ke Ope a o web page and downloads he ma ke da a
equi ed o he analysis. Then, all da a conce ning he SRG
gene a ion on he pe iod unde analysis is also au oma ically
ob ained om he ile p o ided by EDP Ges ão da P odução,
SA. Once he da a download is comple ed, he applica ion
begins o es ima e he new ma ke p ice o each hou o he
selec ed case, by igno ing he co esponden alue o SRG
gene a ion. Gi en ha 0,00 €/MWh bids we e elimina ed, he
clea ing p ocess equi es accep ing selling bids ha we e no
ini ially clea ed so ha he new ma ke p ice co esponds once
again o he in e sec ion poin o he agg ega ed o e and
demand cu es. As soon as he applica ion inishes unning,
all in e media e esul s a e made a ailable o he use ,
including all alues and g aphs o e e y hou . The a e age
p ices a e also calcula ed o he pe iod unde analysis,
allowing a global iew on he es ima ed esul s.
IV. R
ESULTS
O
BTAINED FOR
2013
In his Sec ion we will de ail he esul s ha we e ob ained
applying he app oach de ailed in Sec ion III o he yea o
2013. In he i s place, we will de ail he esul s ob ained o
hou 11 o he 9
h
o Ap il 2013 on which he o iginal ma ke
p ice was 1,00 €/MWh. Then, agg ega ed esul s will be
p esen ed o ypical win e and summe mon hs (Janua y and
July) and also o Ap il because his is ypically a e y windy
mon h and in 2013 i was also a e y ainy pe iod. Finally,
sec ion E p esen s agg ega ed a e age esul s o 2013.
A. Resul s o he hou 11 o 9
h
o Ap il 2013
The o iginal ma ke p ice ob ained by he ma ke ope a o
o he hou 11 o 9
h
o Ap il 2013 was 1,00 €/MWh. Then,
Table I p esen s he esul s ha we e ob ained o he ou
analysed cases (wi hou Po uguese wind gene a ion, wi hou
Po uguese PV gene a ion, wi hou all he Po uguese SRG
gene a ion and wi hou all he Po uguese and Spanish SRG
gene a ion). I should be no iced ha when elimina ing he
Po uguese PV gene a ion, case i=2, he ma ke p ice
emained unchanged gi en he e y educed Po uguese PV
gene a ion a ha hou (33,75 MWh). No conside ing all he
Po uguese SRG gene a ion lead o a p ice inc ease o 11,00
€/MWh ( om 1,00 o 12,00 €/MWh) and as expec ed, he
la ges impac occu s when all Po uguese and Spanish SRG
gene a ion is no conside ed. In his case, he ma ke p ice
inc eases om 1,00 o 60,06 €/MWh.
TABLE I.
–
R
EAL AND ESTIMATED PRICES FOR HOUR
11
OF
A
PRIL
9
2013.
hou
11
wi hou
Po . wind
wi hou
Po . PV
wi hou all
Po . SRG
wi hou all
MIBEL SRG
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
1,00 10,00 1,00 12,00 60,06
In a g aphical way, he e alua ion o he impac o SRG on
he ma ke p ice is illus a ed in Figu e 4. The ed cu e
ep esen s he agg ega ed buying cu e and he blue cu e is
he agg ega ed buying cu e shi ed o he le side by an
ammoun ha co esponds o he SRG gene a ion associa ed
wi h he case i=1...4 unde analysis. In his case, his Figu e is
associa ed wi h case i=4 and so he o iginal selling cu e was
shi ed o he le by 22.983 MWh co esponding o all he
Po uguese and Spanish SRG gene a ion a his hou .
The e o e, he ma ke p ice inc eased om 1,00 €/MWh o
60,06 €/MWh as indica ed be o e.
Figu e 4. Agg ega ed selling and buying cu es o he case i=4 o hou 11
o Ap il 9, 2013. [2]
B. Resul s o Janua y 2013
Table II p esen s he mon hly a e age p ices ob ained o
Janua y 2013. The eal a e age p ice was 48,34 €/MWh and
his alue emained almos unchanged when no conside ing
he Po uguese PV gene a ion, no only due o he educed
ins alled capaci y (abou 250 MW, less han 1,5% o he
ins alled capaci y in he coun y) bu also because o he
educed numbe o insula ion hou s in Janua y. The la ge
impac occu ed again o case i=4 when no conside ing all
he Po uguese and Spanish SRG gene a ion gi en ha he
a e age ma ke p ice ose om 48,34 €/MWh o
95,85€/MWh, which almos co esponds o i s duplica ion.
TABLE II.
–
R
EAL AND
E
STIMATED
P
RICES FOR
J
ANUARY
2013.
Janua y
2013
wi hou
Po . wind
wi hou
Po . PV
wi hou all
Po . SRG
wi hou all
MIBEL SRG
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
48,34 56,50 48,39 64,10 95,85
C. Resul s o Ap il 2013
In Ap il 2013 he a e age ma ke p ice was 16,01 €/MWh.
This alue almos doubled no conside ing all he Po uguese
SRG gene a ion and mo e han iples no conside ing all he
Po uguese and Spanish SRG. Table III p esen s he a e age
p ices ha we e ob ained o his mon h. I should be no iced
ha he a e age ma ke p ice in Ap il educes ega ding he
alue in Janua y ( educ ion om 48,34 o 16,01 €/MWh)
con i ming he la ge p esence o wind SRG gene a ion
modeled by he ze o p ice segmen s in he clea ing p ocess,
and also he in ensi e use o hyd o s a ions.
TABLE III.
–
R
EAL AND ESTIMATED AVERAGE PRICES FOR
A
PRIL
2013.
Ap il
2013
wi hou
Po . wind
wi hou
Po . PV
wi hou all
Po . SRG
wi hou all
MIBEL SRG
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
16,01 22,00 16,16 29,26 52,09
D. Resul s o July 2013
Table IV p esen s he esul s o July 2013. The impac o
no conside ing he Po uguese wind gene a ion is now much
smalle because July is ypically no a windy mon h. Al hough
he numbe o insula ion hou s is now la ge , he impac o he
Po uguese PV gene a ion emains e y educed because in
2013 he PV ins alled capaci y was s ill educed.
TABLE IV.
–
R
EAL AND ESTIMATED AVERAGE PRICES FOR
J
ULY
2013.
July
2013
wi hou
Po . wind
wi hou
Po . PV
wi hou all
Po . SRG
wi hou all
MIBEL SRG
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
51,30 53,12 51,41 55,55 79,31
E. A e age esul s o 2013
Once all he scena ios we e analysed o e e y hou o
2013, i was possible o compu e he a e age yea ly ma ke
p ices as de ailed in Table V.
TABLE V.
R
EAL AND ESTIMATED AVERAGE PRICES FOR
2013.
Yea
2013
wi hou
Po . Wind
wi hou
Po . PV
wi hou all
Po . SRG
wi hou all
MIBEL SRG
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
p ice
(€/MWh)
43,37 49,13 43,53 54,11 82,63
In he i s place, he a e age ma ke p ice o MIBEL in
2013 was 43,37 €/MWh. This alue would inc ease by 5,76
€/MWh no conside ing he Po uguese wind gene a ion, by
0,16 €/MWh no conside ing he Po uguese pho o ol aic
gene a ion, by 10,74 €/MWh wi hou all he Po uguese SRG
gene a ion and inally by 39,26 €/MWh i all he SRG
gene a ion bo h in Po ugal and Spain was igno ed.
Rega ding hese esul s i should be no iced ha Po ugal had
in 2013 a wind ins alled capaci y o 4.730 MW which
co esponds o he la ges alue pe echnology. I his
gene a ion was igno ed, he a e age ma ke p ices would ise
by 13,25%. Howe e , i no Po uguese SRG was conside ed,
hen he p ice would inc ease by 24,76%. Gi en he small
impac o pho o ol aic gene a ion, we can conclude ha he
di e ence is mainly due o small hyd o’s, cogene a ion and
uni s using esidues, al hough hei ins alled capaci y is only
1.900 MW. This ob iously sugges s ha small hyd o’s,
cogene a ion and esidue uni s ha e a much la ge numbe o
ope a ion hou s when compa ed o he wind ins alla ions.
The e o e, al hough ha ing 2,5 imes less ins alled capaci y
ega ding wind pa ks, he impac o no conside ing hese
uni s is almos he same as he impac o wind gene a ion.
V. C
ONCLUSIONS
This pape epo s he esul s ega ding he es ima ion o
he impac o he eed in gene a ion in he p ices o he day
ahead ma ke common o Po ugal and Spain. This analysis is
ele an gi en he la ge ins alled capaci y bene i ing om eed
in ules. These uni s a e conside ed in he ma ke clea ing
p ocess by including 0,0 €/MWh p ice segmen s in he
agg ega ed selling cu e hus shi ing o he igh side he bids
om he emaining gene a ion agen s. As a whole, we
es ima ed ha no conside ing SRG gene a ion om bo h
Po ugal and Spain would inc ease he a e age p ice in 2013
om 43,37 €/MWh o 82,63 €/MWh. The p esence o SRG
educes he ma ke p ice and he numbe o ope a ion hou s o
uni s using adi ional he mal echnologies s ongly
con ibu ing o educe he e enues o hese uni s. This impac
should be ca e ully e alua ed o check i in he long e m his
does no isk he secu i y o supply gi en he ola ile na u e o
he esou ces used by se e al SRG uni s.
A
CKNOWLEDGMENT
The i s au ho wishes o hank EDP Ges ão da P odução
SA, namely o Eng. José Sousa o all he insigh s, discussions
and da a ega ding SRG gene a ion ha was p o ided.
R
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