Exercise (trading and forecasting)

image In the frame of my work at the Technical University of Denmark and at ECMWF (European Centre for Medium-range Weather Forecasts), I developed this exercise titled “Communicating uncertainty – Wind power forecasting and participation in electricity markets”. It actually is a great exercise for understanding the relationship between quality and value of probabilistic forecasts, and also for appraising some of the basic aspects of the participation of wind energy in electricity markets.

The material for this exercise can be downloaded at the following link: exercise. The data there (both measurements and forecasts) are synthetic though realistic. The content description and exercise itself are described in the pdf file. The necessary R functions are all in there too…

Do not hesitate to give me your feedback after playing with this exercise or if aiming using it in the frame of some course!

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IEEE Transactions on Power Systems

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Wind Energy

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