Inspec keywords: power generation reliability; wind power plants; Monte Carlo methods; profitability; power markets; power generation economics; risk management; minimisation

Other keywords: random line outages; wind-integrated real-time double-auctioned competitive power market; risk assessment tool; Monte Carlo simulation; modified IEEE 30-bus system; load variations; net generation cost minimisation; upper-level problem; generation companies; conditional value-at-risk; load buses; economic risk-based bidding strategy; locational marginal price minimisation; bilevel optimisation problem; distribution companies; bilevel optimisation model; wind-integrated day-ahead double-auctioned competitive power market; optimal wind generator placement; GENCO; scenario-based approach; profit maximisation; CVaR; generator outages; lower-level problem; market clearing model

Subjects: Optimisation techniques; Wind power plants; Monte Carlo methods; Power system management, operation and economics; Reliability