We research effects on the electricity market of countries surrounding the North Sea after a proposed offshore wind park in the Dogger Bank area of the North Sea has been constructed. Interconnection and generation distribution are analysed separately. The supply price of electricity for each country is calculated by a linear regression analysis to simulate the supply price for higher or lower supply. The model uses the coupling of one supply with one receiver country. Linear modelling of the electricity market combines the results for each objective to find a final state for the market. Using the historic market and weather data for 2016, the results from interconnection show an average generated value of 0.275 [M€/hour] and 82.1 [GW] of average energy flow through the hub. The results of this interconnection between the countries bring between −26% and +11% change on average electricity prices. For hub generation added in, we found an average generated value of 0.573 [M€/hour] and an average price drop of 5% for each country for an average wind power generation of 6.3 [GW] at the hub. The results show that interconnecting the similarly sized electricity markets i.e. Great Britain and Germany & the Netherlands and Denmark, where one has a higher renewable share, would bring the most price stabilization between the two as well as generate the most financial return.
|Journal||International Journal of Electrical Power and Energy Systems|
|Publication status||Accepted/In press - 2021|
- Country and Hub Generation Distribution
- Electricity Market
- Energy Hub