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Developing a Forecasting Model for the Power Production of Wind Turbines

Hesselink, M. M. J. (2018) Developing a Forecasting Model for the Power Production of Wind Turbines.

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Abstract:De Vrije Energie Producent (DVEP) is an energy supplier and Balance Responsible Party (BRP) in the Dutch energy market. A BRP is responsible for buying and selling energy in advance on behalf of the customers in its portfolio. Each day DVEP is responsible for forecasting the energy production and usage of its entire portfolio for each hour of the next day. The forecast at 9:00 in the morning is used, so the forecast horizon is 15-38 hours ahead. Due to the volatile intraday market, an inaccurate day ahead forecast can be very costly. A large part of the portfolio of DVEP consists of wind power producers. Currently, DVEP buys the day ahead wind power forecast from Company X. This forecast is believed to be inaccurate, which is very costly. Therefore, the research goal is to develop a day ahead forecasting model for the power production of wind turbines of DVEP producers that is more accurate than Company X.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:31 mathematics, 33 physics, 50 technical science in general, 83 economics, 85 business administration, organizational science
Programme:Industrial Engineering and Management MSc (60029)
Link to this item:http://purl.utwente.nl/essays/74895
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