Related papers: Reliability-Constrained Power System Expansion Pla…
In recent years, it has become crucial to improve the resilience of electricity distribution networks (DNs) against storm-induced failures. Microgrids enabled by Distributed Energy Resources (DERs) can significantly help speed up…
Utility-based shortfall risk (UBSR), a convex risk measure sensitive to tail losses, has gained popularity in recent years. However, research on computational methods for UBSR optimization remains relatively scarce. In this paper, we…
Renewable energy (RE) generation exhibits pronounced seasonality and variability, and neglecting these features can lead to significant underestimation of long-term power system risks in power supply. While long-term dispatch strategies are…
We present a capacity expansion model for deciding the new electricity generation and transmission capacity to complement an existing hydroelectric reservoir system. The objective is to meet a forecast demand at least expected cost, namely…
Multistage risk-averse optimal control problems with nested conditional risk mappings are gaining popularity in various application domains. Risk-averse formulations interpolate between the classical expectation-based stochastic and minimax…
This work proposes a novel method for scaling multi-timestep security-constrained optimal power flow in large power grids. The challenge arises from dealing with millions of variables and constraints, including binary variables and…
This paper proposes an algorithm to efficiently solve multistage stochastic programs with block separable recourse where each recourse problem is a multistage stochastic program with stage-wise independent uncertainty. The algorithm first…
Robust Markov Decision Processes (RMDPs) have received significant research interest, offering an alternative to standard Markov Decision Processes (MDPs) that often assume fixed transition probabilities. RMDPs address this by optimizing…
The optimal operation problem of electric vehicle aggregator (EVA) is considered. An EVA can participate in energy and regulation markets with its current and upcoming EVs, thus reducing its total cost of purchasing energy to fulfill EVs'…
This paper presents a practical approach to utilizing emergency response resources (ERRs) and post-disaster available distributed energy resources (PDA-DERs) to improve the resilience of power distribution systems against natural disasters.…
This paper addresses the estimation of the systemic risk measure known as CoVaR, which quantifies the risk of a financial portfolio conditional on another portfolio being at risk. We identify two principal challenges: conditioning on a…
Scenario reduction (SR) aims to identify a small yet representative scenario set to depict the underlying uncertainty, which is critical to scenario-based stochastic optimization (SBSO) of power systems. Existing SR techniques commonly aim…
This study addresses the investment planning problem of a virtual power plant (VPP), formulated as a mixed-integer linear programming (MILP) model. As the number of binary variables increases and the investment time horizon extends, the…
Reliability-based design optimization (RBDO) is traditionally formulated as a nested optimization and reliability problem. Although surrogate models are generally employed to improve efficiency, the approach remains computationally…
To plan safely in uncertain environments, agents must balance utility with safety constraints. Safe planning problems can be modeled as a chance-constrained partially observable Markov decision process (CC-POMDP) and solutions often use…
We study S-shaped utility maximisation with VaR constraint and unobservable drift coefficient. Using the Bayesian filter, the concavification principle, and the change of measure, we give a semi-closed integral representation for the dual…
The growing amount of fluctuating renewable infeeds and market liberalization increases uncertainty in power system operation. To capture the influence of fluctuations in operational planning, we model the forecast errors of the uncertain…
A system reconfiguration problem is considered for three-phase power distribution networks featuring distributed generation. In lieu of binary line selection variables, the notion of group sparsity is advocated to re-formulate the nonconvex…
We study the problem of resource provisioning under stringent reliability or service level requirements, which arise in applications such as power distribution, emergency response, cloud server provisioning, and regulatory risk management.…
We consider the problem of designing policies for partially observable Markov decision processes (POMDPs) with dynamic coherent risk objectives. Synthesizing risk-averse optimal policies for POMDPs requires infinite memory and thus…