Pontificia Universidad Católica de Chile Pontificia Universidad Católica de Chile
Herrera, B. and Watts, D. (2012)

The capacity value of wind: Foundations, review and applications in Chile. http://dx.doi.org/10.1109/TLA.2012.6187601

Revista : IEEE Latin America Transactions
Volumen : 10
Número : 2
Páginas : 1574-1580
Tipo de publicación : ISI Ir a publicación


This paper reviews capacity value in restructured electricity markets and presents some drawbacks in formerly adopted schemes. By revisiting the main economic foundations of Peak Load Pricing, the matter of intermittent resources as wind is discussed. Chilean resource adequacy and capacity payment allocation mechanism is discussed after presenting wind energy outcome in the main national interconnected system. Finally, some desirable updates to capacity allocation methodology are suggested.