Related papers: Dynamic Reserves for Managing Wind Power
Considering that the existing setup of the European electricity markets promotes the spatial coordination of neighbouring power systems only on the day-ahead market stage, regional system operators have to rely mainly on their internal…
Modern power systems present low levels of inertia due to the growing shares of converter-interfaced generation. Consequently, renewable energy sources are increasingly requested to provide frequency support. In addition, due to the inertia…
High wind energy penetration critically challenges the economic dispatch of current and future power systems. Supply and demand must be balanced at every bus of the grid, while respecting transmission line ratings and accounting for the…
With the increasing integration of power plants into the frequency-regulation markets, the importance of optimal trading has grown substantially. This paper conducts an in-depth analysis of their optimal trading behavior in sequential…
Integrating renewable energy into the power grid requires intelligent risk-aware dispatch accounting for the stochastic availability of renewables. Toward achieving this goal, a robust DC optimal flow problem is developed in the present…
We introduce a measure for estimating the best risk-return relation of power production in wind farms within a given time-lag, conditioned to the velocity field. The velocity field is represented by a scalar that weighs the influence of the…
We develop a tractable and flexible approach for incorporating side information into dynamic optimization under uncertainty. The proposed framework uses predictive machine learning methods (such as $k$-nearest neighbors, kernel regression,…
We present a simulation-and-regression method for solving dynamic portfolio allocation problems in the presence of general transaction costs, liquidity costs and market impacts. This method extends the classical least squares Monte Carlo…
Wind farm control using dynamic concepts is a research topic that is receiving an increasing amount of interest. The main concept of this approach is that dynamic variations of the wind turbine control settings lead to higher wake…
Downtime of industrial assets such as wind turbines and medical imaging devices comes at a sharp cost. To avoid such downtime costs, companies seek to initiate maintenance just before failure. Unfortunately, this is challenging for the…
The high variability of renewable energy resources presents significant challenges to the operation of the electric power grid. Conventional generators can be used to mitigate this variability but are costly to operate and produce carbon…
This paper studies the dynamic programming principle using the measurable selection method for stochastic control of continuous processes. The novelty of this work is to incorporate intermediate expectation constraints on the canonical…
This paper formulates dynamic density functions, based upon skewed-t and similar representations, to model and forecast electricity price spreads between different hours of the day. This supports an optimal day ahead storage and discharge…
This paper solves an approximate form of conservation of mass and momentum for a turbine in a wind farm array. The solution is a fairly simple explicit relationship that predicts the streamwise velocity distribution within a wind farm with…
Dynamic portfolio optimization is the process of sequentially allocating wealth to a collection of assets in some consecutive trading periods, based on investors' return-risk profile. Automating this process with machine learning remains a…
This work presents a suite of two optimisation models for the short-term scheduling and redispatch of a virtual power plant (VPP) composed of a wind farm and a Li-ion battery, that participates in the day-ahead energy and secondary…
Increased penetration of wind energy will make electricity market prices more volatile. As a result, market participants will bear increased financial risks, which impact investment decisions and in turn, makes it harder to achieve…
With more renewable energy sources (RES) integrated into the power system, the intermittency of RES places a heavy burden on the system. The uncertainty of RES is traditionally handled by controllable generators to balance the real time…
The floating wind turbines sector has great energy potential. However, minimizing the movement of the structure under the combined effect of wind and waves while ensuring maximum power extraction over a wide operating range is one of the…
The largescale penetration of variable renewable energy (VRE) and their generation uncertainties poses a major challenge for the distribution system operator (DSO) to efficiently determine the day-ahead real and reactive power distribution…