Energy supply optimization for unregulated consumers
Main Article Content
A supply electricity portfolio optimization model for unregulated consumers in the Colombian electricity market is proposed in this paper. The purpose is to choose between three supply alternatives available to the consumers: spot market purchase, purchase by bilateral contracts and self-generation, minimizing the total expected cost and the risk associated to these decisions. For this objective, a stochastic optimization model is used and the risk indicator is the conditional value at risk (CVaR). Finally, the model results are analyzed through the application of simulated prices based on real price observations from the database managed by XM – the Colombian Market Operator, and the best instance of risk aversion is selected.
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