A framework for joint management of regional water-energy ... - Orbit

Price [EUR/MWh]
80
60
40
20
Price
Production
35
30
25
20
Production [GWh/hour]
0
24/9 25/9 26/9 27/9 28/9 29/9 30/9
15
Figure 3. Hourly production and price in the MIBEL, September 2012 (OMIE, 2012).
Production in the MIBEL follows the typical yearly, weekly and daily patterns,
as shown in the figures below. Figure 3 shows the hourly power production
and prices in the MIBEL during the last week of September, 2012. As
mentioned above, the hourly price varies considerably as a function of the
demand. When demand is lowest, typically from 02:00 to 05:00, only the
cheapest power plants remain in production, so the price is low. During peak
hours, more production plants have to go on line in order to satisfy demand,
raising the price. The very low prices during the early hours of September 24
are due to high wind speeds that resulted in a record production of wind power
(REE, 2012).
The daily power production and prices are shown in Figure 4. The weekly
production pattern is clear: production decreases considerably during weekends,
and increases again with the resumption of economical activities on
Monday. The price patterns are less clear, possibly because of climatic factors
and data aggregation.
Price [EUR/MWh]
60
50
40
30
Price
Production
800
700
600
500
Production [GWh/day]
20
3/9 10/9 17/9 24/9
400
Figure 4. Daily production and price in the MIBEL, September 2012 (OMIE, 2012).
15