Related papers: Dispatch-Embedded Long-Term Tail Risk Assessment a…
The dispatchable region of volatile renewable power generation (RPG) quantifies how much uncertainty the power system can handle at a given operating point. State-of-the-art dispatchable region (DR) research has studied how system…
Reliable operation in power systems is becoming more difficult as the penetration of random renewable resources increases. In particular, operators face the risk of not scheduling enough traditional generators in the times when renewable…
We develop a mathematical model for intraday dispatch of co-located wind-battery energy assets. Focusing on the primary objective of firming grid-side actual production vis-a-vis the preset day-ahead hourly generation targets, we conduct a…
Although climate and nature related scenario analysis is increasingly important in finance, operational implementations remain limited for translating long horizon environmental scenarios into counterparty credit risk measures used in…
Transient stability-constrained preventive redispatch plays a crucial role in ensuring power system security and stability. Since redispatch strategies need to simultaneously satisfy complex transient constraints and the economic need,…
Recent financial disasters emphasised the need to investigate the consequence associated with the tail co-movements among institutions; episodes of contagion are frequently observed and increase the probability of large losses affecting…
The growing renewable energy sources have posed significant challenges to traditional power scheduling. It is difficult for operators to obtain accurate day-ahead forecasts of renewable generation, thereby requiring the future scheduling…
As renewable energy is becoming the major resource in future grids, the weather and climate can have a higher impact on grid reliability. Transmission expansion planning (TEP) has the potential to reinforce a transmission network that is…
Convective available potential energy (CAPE) is of strong interest in climate modeling because of its role in both severe weather and in model construction. Extreme levels of CAPE ($>$ 2000 J/kg) are associated with high-impact weather…
The increasing penetration of Renewable Energy Sources (RES) requires more Flexibility Resources (FR), generally thermal units and storages, must be kept in the system to accommodate the uncertainties from RES. The challenge is how the…
The growing penetration of renewable energy necessitates high-frequency real-time scheduling. While neural network-based surrogates enable computationally efficient scheduling, strictly enforcing nonconvex power flow constraints without…
Energy management systems (EMS) are becoming increasingly important in order to utilize the continuously growing curtailed renewable energy. Promising energy storage systems (ESS), such as batteries and green hydrogen should be employed to…
We show how to reduce the problem of computing VaR and CVaR with Student T return distributions to evaluation of analytical functions of the moments. This allows an analysis of the risk properties of systems to be carefully attributed…
The issues of uncertainty and frequency security could become significantly serious in power systems with the high penetration of volatile inverter-based renewables (IBRs). These issues make it necessary to consider the uncertainty and…
This paper presents a long-term dispatch framework for coupled hydropower and floating photovoltaic systems. We introduce a temporal decomposition algorithm based on partial Lagrangian relaxation to address long-term water contract…
The integration of renewable energy sources (RES) is rapidly increasing in electric power systems (EPS). While the inclusion of intermittent RES coupled with the wide-scale deployment of communication and sensing devices is important…
Modern risk modelling approaches deal with vectors of multiple components. The components could be, for example, returns of financial instruments or losses within an insurance portfolio concerning different lines of business. One of the…
To ensure that real-world infrastructure is safe and durable, systems are designed to not fail for any but the most rarely occurring parameter values. By only happening deep in the tails of the parameter distribution, failure probabilities…
An efficient adaptive direct numerical integration (DNI) algorithm is developed for computing high quantiles and conditional Value at Risk (CVaR) of compound distributions using characteristic functions. A key innovation of the numerical…
Variable renewable generation increases the challenge of balancing power supply and demand. Grid-scale batteries co-located with generation can help mitigate this misalignment. This paper explores the use of reinforcement learning (RL) for…