GenCo's integrated trading decision making to manage multimarket uncertainties

Parul Mathuria, Rohit Bhakar

Research output: Contribution to journalArticlepeer-review

10 Citations (SciVal)
273 Downloads (Pure)


Fossil fuel generation companies (GenCos) trade in multiple uncertain energy markets: fuel and carbon markets on upstream side while electricity market on downstream side. Global economic and environmental benefits lead these markets to pursue overlapping goals, making them highly interactive. GenCos may identify optimal trading strategies for upstream and downstream trading in an integrated framework, to manage an overall secure and profitable position. Further, severe unpredictability of energy market prices may necessitate a GenCo to make trading plans which perform better meeting its goals. Under severe uncertainty of involved markets, this paper proposes Information Gap Decision Theory (IGDT) based approach to select three interrelated trading portfolios, in an integrated framework. Results from a realistic case study provide a comprehensive decision insight to address risk-averse and risk-seeking behavior of GenCo, explicitly highlighting importance of co-variation in prices of interactive markets.

Original languageEnglish
Pages (from-to)1465-1474
Number of pages10
JournalIEEE Transactions on Power Systems
Issue number3
Early online date26 Aug 2014
Publication statusPublished - May 2015


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