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# long-term (day to week) forecast is used by the utility to plan the [[energy mix]] or buy electricity from other providers. Typically this information is needed on a "day ahead" basis (e. g., by 6AM), but markets tend not to operate on weekends and holidays, so occasionally longer forecasts are used.
The challenges the utilities are facing when wind generation is injected into a power system depend on the share of that renewable energy.{{sfn|Haupt|2015|pp=47}} For [[Denmark]], which is a country with one of the highest shares of wind power in the electricity mix, the average [[wind power penetration]] in 2017-2018 was 40-45% (meaning that 40-45% of the electricity consumption was met with wind energy), while the instantaneous penetration (that is, the instantaneous wind power production compared to the consumption to be met at a given time)
The [[transmission system operator]] (TSO) is responsible for managing the electricity balance on the grid: at any time, electricity production has to match consumption. Therefore, the use of production means is scheduled in advance in order to respond to load profiles. The load corresponds to the total electricity consumption over the area of interest. Load profiles are usually given by load forecasts which are of high accuracy. For making up the daily schedule, TSOs may consider their own power production means, if they have any, and/or they can purchase power generation from [[Independent Power Producer]]s (IPPs) and [[electric utility|utilities]], via bilateral contracts or electricity pools. In the context of deregulation, more and more players appear on the market, thus breaking the traditional situation of vertically-integrated utilities with quasi local monopolies. Two main mechanisms compose electricity markets. The first one is the spot market where participants propose quantities of energy for the following day at a given production cost. An auction system permits to settle the electricity spot price for the various periods depending on the different bids. The second mechanism is the balancing of power generation, which is coordinated by the TSO. Depending on the energy lacks and surplus (e.g. due to power plant failures or to intermittence in the case of wind power installations), the TSO determines the penalties that will be paid by IPPs who missed in their obligations. In some cases, an intra-day market is also present, in order to take corrective actions.{{citation needed|date=February 2012}}
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