A Short-Term Decision-Making Model for an Electricity Retailer considering Customers’ Renewable Energy Requirements

This paper proposes a short-term decision-making model for an electricity retailer in the two-settlement electricity market considering different renewable energy requirements from retail customers. A two-stage stochastic optimization problem with risk management using the Conditional Value at Risk (CVaR), is proposed to help electricity retailers with self-generation of renewable energy participate more efficiently in the day-ahead and real-time electricity markets. Case studies are conducted to verify the effectiveness of the proposed decision model under different renewable energy requirements and risk-aversion levels.