| Network
of Excellence |
CARiMan |
The
Internet Portal for Computer Aided Risk Management |
Responsible: UBrad
Assistance: DUTH, PRO, all partners
This research project aims to research on
modelling of the risk exposure of the renewable sources associated with its
production and market participation in order to include it in the making trading
decisions in the competitive market environment.
The main objectives
of this JPA are to (1) review literature on renewable energy market and risk
modelling techniques; (2) identify risk defining factors for
renewable energy sources, (3) investigate suitability of different
modelling methodologies, (4) model risk exposure of renewable sources for
producing and selling renewable outputs due to uncertainties associated with
energy market and production of renewable sources, and (5) analyse case studies
for different production and market scenarios incorporating the risk factors in
the trading decisions in order to maximise profit from trading electricity, as
well as minimising the overall risk exposure of renewable sources.