Microgrid operational decisions based on CFaR with wind power and pool prices uncertainties

• Main Authors: Muhamad Razali N.M., Hashim A.H.
• Other Authors: 36440450000
• Format: Conference paper
• Published: 2023
• Subjects: Microgrid; Operational strategies; Risks; Commerce; Costs; Decision making; Differential equations; Energy management; Profitability; Wind power; Cash flow; Distributed Generation; Energy demands; Energy procurement; Expected costs; Expected profits; Expected shortfall; Interruptible load; Micro grid; Monte Carlo Simulation; Operational decisions; Ornstein-Uhlenbeck; Risk based decision making; Spot price; Stochastic differential equations; System reliability; Weather data; Weibull; Wind profiles; Wind-turbine generation; Mesh generation

The paper investigates the case of a microgrid participating in a pool-type market to enable purchasing part of its energy demand from the grid. The market exposure subjects the ?grid to various risks including price, demand volume, non-dispatchable distributed generation output and system reliabili...