Risk Based Benefit Analysis of RES Aggregator in Restructured Energy Market

摘要

In the market environment where a number of microgrids are involved, the operational policies of the decision making entities demand an in depth analysis of the situation that can arise during different events. Microgrid is an active network where different types of Distributed Energy Sources(DES) are used. Most of the DES used earlier was Diesel generators but the concern for the environment along with the high operational cost of diesel generators has encouraged the use of alternatives such as Renewable Energy Sources (RES). The uncertain nature of the power generated by different RES is not easy to deal with. This paper aims to realize the risk in power generation and the financial benefit extracted from the generated power. While deciding the day-ahead power to be committed in the wholesale energy market, the risk associated with it should be considered. In this paper two of the well-known risk assessment techniques VaR and CVaR are used to predict the power generated by the RES at a particular level of risk. The segregation of the aggregator has also been done to show the different business strategies taken by different type of aggregator working in risky environment.