TY - GEN
T1 - Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration
AU - Madavan, Avinash N.
AU - Bose, Subhonmesh
AU - Guo, Ye
AU - Tong, Lang
N1 - Funding Information:
A. N. Madavan and S. Bose are with the Department of Electrical and Computer Engineering, University of Illinois at Urbana-Champaign, Urbana, IL 61801. Y. Guo is with the Tsinghua-Berkeley Shenzhen Institute Shenzhen, China, 518071. L. Tong is with the School of Electrical and Computer Engineering, Cornell University, Ithaca, NY 14853. Emails: {madavan2,boses}@illinois.edu, guo-ye@sz.tsinghua.edu.cn, lt35@cornell.edu. This work was partially supported by the International Institute of Carbon-Neutral Energy Research (I2CNER), the Power System Engineering Research Center (PSERC) and NSF Award 1809830.
Publisher Copyright:
© 2019 IEEE.
PY - 2019/8
Y1 - 2019/8
N2 - We propose a risk-sensitive security constrained economic dispatch (R-SCED) problem that allows a system operator to systematically tradeoff between the cost of power procurement and the reliability of power delivery in the event of a contingency. Our formulation includes a parameterized conditional value at risk (CVaR) of the cost across contingencies and allows for redispatch of generators and load shedding. Finally, we propose the critical region exploration (CRE) algorithm to solve R-SCED, and discuss its performance on the IEEE 30-bus test system.
AB - We propose a risk-sensitive security constrained economic dispatch (R-SCED) problem that allows a system operator to systematically tradeoff between the cost of power procurement and the reliability of power delivery in the event of a contingency. Our formulation includes a parameterized conditional value at risk (CVaR) of the cost across contingencies and allows for redispatch of generators and load shedding. Finally, we propose the critical region exploration (CRE) algorithm to solve R-SCED, and discuss its performance on the IEEE 30-bus test system.
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U2 - 10.1109/PESGM40551.2019.8974133
DO - 10.1109/PESGM40551.2019.8974133
M3 - Conference contribution
AN - SCOPUS:85079045495
T3 - IEEE Power and Energy Society General Meeting
BT - 2019 IEEE Power and Energy Society General Meeting, PESGM 2019
PB - IEEE Computer Society
T2 - 2019 IEEE Power and Energy Society General Meeting, PESGM 2019
Y2 - 4 August 2019 through 8 August 2019
ER -