Wind Energy Services
The Situation
The Energy Policy Act of 2005 clearly established the need for a more efficient power supply, which incorporates fuel diversity and fuel self-sufficiency. Thus, many energy market participants are now working toward incorporating wind energy into already diverse portfolios. Other drivers toward wind power include:
- Renewable Portfolio Standards (RPS) require states to include renewable resources in integrated resource plans, which are most effectively met by wind energy
- Energy companies have been quickly identifying the most economical or beneficial sites for future wind farms
- Wind technology makes more efficient use of available wind, thus reducing costs
- Consumers are demanding “cleaner” and “greener” alternatives from the industry
With over $3 billion invested in wind energy in 2006 alone, and projections for a future power supply consisting of almost 20% wind by the year 2020, it is certain that wind alternatives will continue to compete effectively for a prominent place in power markets.
The Solution
Ventyx can help to identify and quantify the transmission risks associated with particular wind sites, along with forecasting curtailments of wind energy due to existing transmission congestion or dispatch methodologies. Further, Ventyx can quantify the impact of integrated wind storage facilities, and the impact of substantial wind generation mix on operational parameters such as spinning reserve requirements and other commitment issues.
Ventyx evaluates these and other situations posed by the potential addition of thousands of new megawatts of wind capacity using PROMOD IV®. By simulating, on an hourly basis, the applicable market area under a variety of operating or market conditions, we quantify the operating risks associated with the facility and develop a detailed forecast of market prices and system operation under various weather conditions. Through the MarketVision database, Ventyx maintains current models of each market in the U.S. as well as updated forecasts for supply/demand, fuel price projections, and proposed future generation and transmission expansion, allowing us to rapidly produce realistic forecasts that incorporate wind energy in any of the U.S. markets.
Consulting Resources
In the past year, Ventyx's team of expert consultants have helped wind developers evaluate possible sites in the Midwest for a large merchant facility, including analyzing several alternative transmission interconnection strategies. In the Western and Midwestern U.S., Ventyx has helped wind developers forecast potential wind curtailment (in some cases as much as 20% of requested schedules) due to transmission constraints and regional plant operating guidelines.
