Short-Term Trading for a Wind Power Producer

This panel presentation is based on paper “J. M. Morales, A. J. Conejo, J. Pérez-Ruiz, Short-Term Trading for a Wind Power Producer. IEEE Transactions on Power Systems, in press, 2010.” It presents a technique to derive the best offering strategy for a wind power producer in an electricity market that includes several trading floors. Uncertainty pertaining to wind availability, market prices at the different trading stages, and balancing energy needs are properly taken into account. Risk on profit variability is suitably controlled at the cost of a small reduction in expected profit. The proposed technique translates into a linear programming problem of moderate size, which is readily solvable using commercially available software.