Browsing by Author "Martins, Renata Filipa Morais"
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- Decision-Making Under Uncertainty for Market Bidding Strategies of Wind and Photovoltaic TechnologiesPublication . Martins, Renata Filipa Morais; Catalão, João Paulo da Silva; López, Agustín Alejandro Sánchez de La NietaElectrical energy sector has been changing over the past years due to economic and environmental causes. The climate changes over the last decades have led to the Kyoto Protocol agreement in order to address these environmental concerns. The appointed solution which is proposed as an answer to these concerns is the production of electrical energy through renewable energy sources (RES). RES not only contribute to these environmental goals, but also are an opportunity to reduce the economic challenges that countries face due to fossil fuel dependence. However, it is important to address the challenges that come from adopting RES as a means of energy production. Several RES such as wind and solar production, which are strongly dependent on weather conditions, could have a negative impact on market structures. The production from these types of sources can introduce significant uncertainty to electricity markets, which could further hinder their use. If the investments on RES production units such as wind and solar are to be successful, decision-making models could help the investors to be confident regarding the investment, increasing the promotion of the use of these technologies. In this dissertation, two bidding strategies in the day-ahead market are presented. The proposed strategies maximize the profits from offering the wind and photovoltaic production in the dayahead market, improving the production management.