PROJECT TITLE :

A Note on the Normalization of Spanish Electricity Spot Prices

ABSTRACT:

Merit order of renewable generation has produced an increasing, relevant range of zero values in Spanish electricity spot prices since 2010, in distinction with the remainder of markets which rarely gift zero values. This letter shows that existing methodologies for normalizing the worth distribution fail to yield a proper normalization. This letter proposes a brand new algorithm based mostly on Nataf transformation which addresses this issue and ensures a correct normalization. Numerical results validate the proposed algorithm.