Sayyad Nojavan

Before restructuring in the electricity industry, generation, transmission and distribution companies were electricity market players. But after restructuring in the electricity industry, new electricity market players containing retailer, large consumer, virtual power plant, demand response aggregator, electric vehicle aggregator, smart home, energy hub, microgrids and etc. have been emerged in the electricity industry. Nowadays, severe uncertainty of electricity market price is a challenge issue in which the electricity market players are faced. It should be noted that electricity market price uncertainty is increasing mainly due to behaviours of market player, renewable distributed generation and responsive loads. The uncertainty poses challenges on grid operations and control, distorts the electricity market outcomes, and complicates the short run and long-run decision-making processes of electricity market players. By defining aforementioned problems and challenges of electricity market players, the optimal solutions will be discussed in this book. Furthermore, it can be studied in order to investigate how electricity is purchased or sold in the presence of electricity market price uncertainty. Therefore, uncertainty modeling of market price is necessary which leads to take decision with less risk. According to the importance of continuous and secure operation of electricity market players, further and complete studies are required in this concept. Finnaly, this book seeks to find, analyse and introduce features and problems of electricity market players in uncertain environment.