Hedging strategies for wind renewable generation in electricity markets

Abstract

Decision making under uncertainty has been an increasing challenge in electricity markets. Strategies to handle uncertainty and manage risks have become key issues for the daily activities of system operators, planners and market agents. This panel was aimed at creating an enlivened discussion on how to properly consider and model uncertainty in electricity markets. Presentations addressed conceptual issues, such as dynamic risk management and risk criteria as well as real applications in important areas such as power systems operations, transmission planning and bidding strategies. Presenters included experts from academia and practitioners from the industry.Decision making under uncertainty has been an increasing challenge in electricity markets. Strategies to handle uncertainty and manage risks have become key issues for the daily activities of system operators, planners and market agents. This panel was aimed at creating an enlivened discussion on how to properly consider and model uncertainty in electricity markets. Presentations addressed conceptual issues, such as dynamic risk management and risk criteria as well as real applications in important areas such as power systems operations, transmission planning and bidding strategies. Presenters included experts from academia and practitioners from the industry.