Managing the cumulative distribution function of the profit: A producer risk management case

Abbasi, MH; Rajabi, A; Taki, M; Li, L; Zhang, J; Ghavidel, S

Managing the cumulative distribution function of the profit: A producer risk management case

Abbasi, MH Rajabi, A

Taki, M Li, L

Zhang, J

Ghavidel, S

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Publication Type:: Conference Proceeding
Citation:: 2017 20th International Conference on Electrical Machines and Systems, ICEMS 2017, 2017
Issue Date:: 2017-10-02

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Field	Value	Language
dc.contributor.author	Abbasi, MH	en_US
dc.contributor.author	Rajabi, A https://orcid.org/0000-0002-3203-9861	en_US
dc.contributor.author	Taki, M	en_US
dc.contributor.author	Li, L https://orcid.org/0000-0001-8485-2216	en_US
dc.contributor.author	Zhang, J https://orcid.org/0000-0003-2616-6722	en_US
dc.contributor.author	Ghavidel, S	en_US
dc.date.issued	2017-10-02	en_US
dc.identifier.citation	2017 20th International Conference on Electrical Machines and Systems, ICEMS 2017, 2017	en_US
dc.identifier.isbn	9781538632468	en_US
dc.identifier.uri	http://hdl.handle.net/10453/127365
dc.description.abstract	© 2017 IEEE. This paper presents a new framework for risk consideration of participants in electricity markets. Current approaches add risk measures to stochastic problem formulation in order to control the variation of the profits (costs). However, in the proposed method, cumulative distribution function of profit is utilized and it is shaped based on the preferred risk levels of the producer (buyer). The features of this new method are compared with the current approaches based on a detailed case study performed on the problem of a producer participating in a three settlement market.	en_US
dc.relation.ispartof	2017 20th International Conference on Electrical Machines and Systems, ICEMS 2017	en_US
dc.relation.isbasedon	10.1109/ICEMS.2017.8056464	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	Managing the cumulative distribution function of the profit: A producer risk management case	en_US
dc.type	Conference Proceeding
utslib.for	0906 Electrical and Electronic Engineering	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology
pubs.organisational-group	/University of Technology Sydney/Faculty of Engineering and Information Technology/School of Electrical and Data Engineering
pubs.organisational-group	/University of Technology Sydney/Students
utslib.copyright.status	closed_access	*
pubs.publication-status	Published	en_US

Abstract:

© 2017 IEEE. This paper presents a new framework for risk consideration of participants in electricity markets. Current approaches add risk measures to stochastic problem formulation in order to control the variation of the profits (costs). However, in the proposed method, cumulative distribution function of profit is utilized and it is shaped based on the preferred risk levels of the producer (buyer). The features of this new method are compared with the current approaches based on a detailed case study performed on the problem of a producer participating in a three settlement market.

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http://hdl.handle.net/10453/127365