Risk-Aware Profit Maximization Problem in Multiperiod Energy Markets with Uncertain Photovoltaics Power

We present a profit maximization issue in a dayahead electricity market for a participant (aggregator) whose financial condition is considered under the uncertain photovoltaics (PV) power situation. An energy demand/supply profile can be achieved by adjusting the dispatchable devices, e.g., energy storage systems and fossil fuel generators, by applying a prosumption model. We analyze an uncertainty issue brought by the PV profiles, discussing the relationship between the PV profile and the associated profit. Then we propose a strategy, in which the financial condition is considered by constraining the potential profits within one particular acceptable extent. Based on the proposed strategy, the aggregator is supposed to operate his dispatchable devices to pursue the maximum profit by submitting a risk-aware prosumption profile to the market. The simulation results show that under different financial conditions, the aggregator’s performances are different and reasonable.