A risk-based approach for modeling the strategic behavior of a distribution company in wholesale energy market

A Risk-Based Decision Framework for the Distribution Company in Mutual Interaction With the Wholesale Day-Ahead Market and Microgrids

“…In [14], a deterministic bi-level approach is presented where the UL problem is to maximize the social welfare of DAEM and the LL problem models the interaction between the Disco and DER managers. The strategic behavior of a Disco in the DAEM is modeled in [15] with a stochastic bi-level approach, and in [16] by considering the Disco as the leader and DAEM and RTEM as the followers. In [17], the Disco participates in the RTEM as a price-maker using a demand response aggregator in the distribution network.…”

“…In the proposed models for a price-maker Disco, for example [14][15][16][17], the behavior of DER managers such as aggregators and MGs is not modeled.…”

Exploring the Profitability and Efficiency of Variable Renewable Energy in Spot Electricity Market: Uncovering the Locational Price Disadvantages

“…Thirdly, how will learning and strategic behavior of GenCos (Generation Companies) driving deviations of equilibrium? In practical electricity market, strategical behavior of GenCos are observed [47][48][49]. The learning and strategic behavior of GenCos are studied by many researchers.…”

Distribution network operational risk assessment and early warning considering multi‐risk factors

“…Although these studies have some contributions and merits to some extent, the risk indices they defined are a little insufficient so that the operation state of the power system cannot be explicitly understood and grasped. With the deepening development and application of risk theory in power systems, risk identification [11], risk-based optimisation and risk management scheme researches are now on a rise [23][24][25]. Therefore, it is necessary to establish a comprehensive risk indicator system to measure the risk level, which is the basis of risk-based further research studies.…”