Risk constrained short term electricity procurement for open access consumer in India

Open access is a major power sector reform in energy deficit India, and encourages short term trading for meeting variations in demand. An open access large consumer in India, can participate in short term trading through bilateral contracts, power exchanges (PXs) or unscheduled interchange (UI) transactions. In addition, it needs to satisfy obligations of renewable purchase. Prices of PX's day ahead market are uncertain, while UI charges for frequency variations vary widely due to real time deviations in withdrawals. Considering these uncertainties in the backdrop of Indian power sector, this work proposes an optimal short term power procurement strategy for large consumer, from available trading options. A small self generation facility and demand flexibility is also considered. A practical case study of Indian open access consumer is considered to show the effectiveness of proposed approach.