Related papers: Resource Adequacy and Capacity Procurement: Metric…
This paper investigates the use of extreme value theory for modelling the distribution of demand-net-of-wind for capacity adequacy assessment. Extreme value theory approaches are well-established and mathematically justified methods for…
The concept of capacity value is widely used to quantify the contribution of additional generation (most notably renewables) within generation adequacy assessments. This paper surveys the existing probability theory of assessment of the…
This paper presents a framework for deriving the storage capacity that an electricity system requires in order to satisfy a chosen risk appetite. The framework takes as inputs user-defined event categories, parameterised by peak…
This paper reviews methods that are used for adequacy risk assessment considering solar power and for assessment of the capacity value of solar power. The properties of solar power are described as seen from the perspective of the…
The uncertainty quantification and risk modeling are hot topics in the operation and planning of energy systems. The system operators and planners are decision-makers that need to handle the uncertainty of input data of their models. As an…
This paper is concerned with a simulation study for a stochastic production network model, where the capacities of machines may change randomly. We introduce performance measures motivated by risk measures from finance leading to a…
Liberalized electricity markets often include resource adequacy mechanisms that require consumers to contract with generation resources well in advance of real-time operations. While administratively defined mechanisms have most commonly…
Current contingency reserve criteria ignore the likelihood of individual contingencies and, thus, their impact on system reliability and risk. This paper develops an iterative approach, inspired by the current security-constrained unit…
Clinical researchers often select among and evaluate risk prediction models using standard machine learning metrics based on confusion matrices. However, if these models are used to allocate interventions to patients, standard metrics…
The integration of more intermittent generation, energy storage, and dynamic loads on top of a competitive market environment requires future grids to handle increasing diversity of power injection states. Grid planners need new tools and…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
Optimization models have been broadly used within side the energy industry as useful decision-making systems for scheduling and dispatching electric powered energy resources; this is applied in a system called unit commitment (UC). Unit…
The problem of efficient resource allocation has drawn significant attention in many scientific disciplines due to its direct societal benefits, such as energy savings. Traditional approaches in addressing online resource allocation…
The reliability of the electric grid has in recent years become a larger concern for regulators, planners, and consumers due to several high-impact outage events, as well as the potential for even more impactful events in the future. These…
Securing an adequate supply of dispatchable resources is critical for keeping a power system reliable under high penetrations of variable generation. Traditional resource adequacy mechanisms are poorly suited to exploiting the growing…
To achieve ambitious greenhouse gas emission reduction targets in time, the planning of future energy systems needs to accommodate societal preferences, e.g. low levels of acceptance for transmission expansion or onshore wind turbines, and…
The paper provides energy system-wide estimates of the effects sufficiency measures in different sectors can have on energy supply and system costs. In distinction to energy efficiency, we define sufficiency as behavioral changes to reduce…
Newsvendor problem is an extensively researched topic in inventory management. In this class of inventory problems, shortage and excess costs are considered to be proportional to the quantity lost. But, for critical goods or commodities,…
This paper presents an assessment of global economic energy potentials for all major natural energy resources. This work is based on both an extensive literature review and calculations using natural resource assessment data. Economic…
Optimizing a building's energy supply design is a task with multiple competing criteria, where not only monetary but also, for example, an environmental objective shall be taken into account. Moreover, when deciding which storages and…