risk, exploit economies of scale, overcome regulatory barriers, and merge time-varying and player-dependent flexibility …

-in and electricity prices. This uncertainty reflects on both the market outcomes and the quantity of renewable generation … generation under consideration of risk. We include a reserve market, a day-ahead market and an intraday market in stochastic … modeling and develop a multi-stage stochastic Mixed Integer Linear Program. We assess the profitability as well as the risk …