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Optimal Offering Strategies for Wind Power Producers Considering Uncertainty and Risk

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PROJECT TITLE :

Optimal Offering Strategies for Wind Power Producers Considering Uncertainty and Risk

ABSTRACT:

This paper provides a two-stage stochastic programming approach for the development of optimal offering strategies for wind power producers. Uncertainty is related to electricity market prices and wind power production. A hybrid intelligent approach, combining wavelet transform, particle swarm optimization and adaptive-network-based fuzzy inference system, is used in this paper to generate plausible scenarios. Also, risk aversion is explicitly modeled using the conditional value-at-risk methodology. Results from a realistic case study, based on a wind farm in Portugal, are provided and analyzed. Finally, conclusions are duly drawn.


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Optimal Offering Strategies for Wind Power Producers Considering Uncertainty and Risk - 4.8 out of 5 based on 83 votes

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