Title :
Semi-variance of risk decision-making for purchasing electricity in multi-market
Author :
Xiaojiang Huo ; Xuncheng Huang ; Zhongjing Liu
Author_Institution :
Hua Zhong Univ. of Sci. & Technol., Wuhan, China
Abstract :
Aiming at the choices and risk management that electricity purchasers will face to purchase power in four markets under the framework of the electricity market. This paper, which uses semi-variance to measure risk, has established two risk decision-making models based on restrictive and non-restrictive buy/sell through risks measured by semi-variance. Meanwhile, it proposes to minimize the risks on the basis of historic data and practical statistical genetic algorithms under the premise of benefit guarantee.
Keywords :
decision making; genetic algorithms; power markets; benefit guarantee; electricity market; historic data; purchasing electricity in multimarket; risk decision making; semivariance; statistical genetic algorithms; Decision making; Electricity supply industry; Energy consumption; Fluctuations; Genetic algorithms; Mesh generation; Power generation; Power generation economics; Risk management; Uncertainty; Risk; decision-making model; electricity purchasers; semi-variance;
Conference_Titel :
World Non-Grid-Connected Wind Power and Energy Conference, 2009. WNWEC 2009
Conference_Location :
Nanjing
Print_ISBN :
978-1-4244-4702-2
DOI :
10.1109/WNWEC.2009.5335846