A Stochastic Control Approach to Manage Operational Risk in Power Systems
2012 (English)In: IEEE Transactions on Power Systems, ISSN 0885-8950, Vol. 27, no 2, 1021-1031 p.Article in journal (Refereed) Published
In this paper, the novel method operational risk managing optimal power flow (ORMOPF), for minimizing the expected cost of power system operation, is proposed. In contrast to previous research in the area, the proposed method does not use a security criterion. Instead the expected cost of operation includes expected costs of system failures. This will lead to more flexible operating limits, giving a more adequate balance between risk and economic benefit of transmission. The method assumes a set of observable system variables such as transfers through specific transmission corridors, system frequency, or distance to a bifurcation surface. Then impulse control is applied to find an optimal strategy for activation of tertiary reserves, based on the values of the observables.
Place, publisher, year, edition, pages
2012. Vol. 27, no 2, 1021-1031 p.
Net transmission capacity, operational risk managing optimal power flow (ORMOPF), optimal power flow (OPF), power system security, security-constrained optimal power flow (SCOPF), tertiary reserves
Other Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:kth:diva-52585DOI: 10.1109/TPWRS.2011.2174165ISI: 000303205500048ScopusID: 2-s2.0-84860257961OAI: oai:DiVA.org:kth-52585DiVA: diva2:467153
QC 201205252011-12-192011-12-192013-06-24Bibliographically approved