Related papers: Optimizing Flexibility in Power Systems by Maximiz…
We study a smart grid with wind power and battery storage. Traditionally, day-ahead planning aims to balance demand and wind power, yet actual wind conditions often deviate from forecasts. Short-term flexibility in storage and generation…
We study a robust portfolio optimization problem under model uncertainty for an investor with logarithmic or power utility. The uncertainty is specified by a set of possible L\'evy triplets; that is, possible instantaneous drift, volatility…
We give a general formulation of the utility maximization problem under nondominated model uncertainty in discrete time and show that an optimal portfolio exists for any utility function that is bounded from above. In the unbounded case,…
The increasing penetration of renewable energy sources introduces significant challenges to power grid stability, primarily due to their inherent variability. A new opportunity for grid operation is the smart integration of electricity…
Determination of the most economic strategies for supply and transmission of electricity is a daunting computational challenge. Due to theoretical barriers, so-called NP-hardness, the amount of effort to optimize the schedule of generating…
In this paper, we consider a chance-constrained formulation of the optimal power flow problem to handle uncertainties resulting from renewable generation and load variability. We propose a tuning method that iterates between solving an…
A major transition in the operation of electric power grids is the replacement of synchronous machines by distributed generation connected via power electronic converters. The accompanying "loss of rotational inertia" and the fluctuations…
Chance-constrained optimization has emerged as a promising framework for managing uncertainties in power systems. This work advances its application to the DC Optimal Power Flow (DC-OPF) model, developing a novel approach to uncertainty…
With the proliferation of distributed generation into distribution networks, the need to consider fault currents in the dispatch problem becomes increasingly relevant. This paper introduces a method for adding fault current constraints into…
Power flow refers to the injection of power on the lines of an electrical grid, so that all the injections at the nodes form a consistent flow within the network. Optimality, in this setting, is usually intended as the minimization of the…
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…
We propose a novel distribution-free scheme to solve optimization problems where the goal is to minimize the expected value of a cost function subject to probabilistic constraints. Unlike standard sampling-based methods, our idea consists…
Introduction of renewable generation leads to significant reduction of inertia in power system, which deteriorates the quality of frequency control. This paper suggests a new control scheme utilizing controllable load to deal with low…
Optimal power flow (OPF) is an important tool for Independent System Operators (ISOs) to deal with the power generation management. With the increasing penetration of renewable energy into power grids, challenges arise in tackling the OPF…
We propose a new Robust Optimization method for the energy offering problem of a price-taker generating company that wants to build offering curves for its generation units, in order to maximize its profit while taking into account the…
As more and more renewable intermittent generations are being connected to the distribution grid, the grid operators require more flexibility to maintain the balance between supply and demand. The intermittencies give rise to situations…
This paper proposes a simple and flexible storage model for use in a variety of multi-period optimal power flow problems. The proposed model is designed for research use in a broad assortment of contexts enabled by the following key…
We examine optimization problems in which an investor has the opportunity to trade in $d$ stocks with the goal of maximizing her worst-case cost of cumulative gains and losses. Here, worst-case refers to taking into account all possible…
This paper presents a method for predictive aggregation of the available flexibility at the residential unit level into a flexibility chart that represents the admissible active and reactive powers, along with the associated flexibility…
This paper proposes a general and practical approach to estimate the economic benefits of optimally controlling deferrable loads in a Distribution System Operator's (DSO) grid, without relying on historical observations. We achieve this by…