Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration

Avinash N. Madavan; Subhonmesh Bose; Ye Guo; Lang Tong

doi:10.1109/PESGM40551.2019.8974133

Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration

Avinash N. Madavan, Subhonmesh Bose, Ye Guo, Lang Tong

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Abstract

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.

Original language	English (US)
Title of host publication	2019 IEEE Power and Energy Society General Meeting, PESGM 2019
Publisher	IEEE Computer Society
ISBN (Electronic)	9781728119816
DOIs	https://doi.org/10.1109/PESGM40551.2019.8974133
State	Published - Aug 2019
Event	2019 IEEE Power and Energy Society General Meeting, PESGM 2019 - Atlanta, United States Duration: Aug 4 2019 → Aug 8 2019

Publication series

Name	IEEE Power and Energy Society General Meeting
Volume	2019-August
ISSN (Print)	1944-9925
ISSN (Electronic)	1944-9933

Conference

Conference	2019 IEEE Power and Energy Society General Meeting, PESGM 2019
Country	United States
City	Atlanta
Period	8/4/19 → 8/8/19

ASJC Scopus subject areas

Energy Engineering and Power Technology
Nuclear Energy and Engineering
Renewable Energy, Sustainability and the Environment
Electrical and Electronic Engineering

Access to Document

10.1109/PESGM40551.2019.8974133

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Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration. / Madavan, Avinash N.; Bose, Subhonmesh; Guo, Ye; Tong, Lang.

2019 IEEE Power and Energy Society General Meeting, PESGM 2019. IEEE Computer Society, 2019. 8974133 (IEEE Power and Energy Society General Meeting; Vol. 2019-August).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Madavan, AN, Bose, S, Guo, Y & Tong, L 2019, Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration. in 2019 IEEE Power and Energy Society General Meeting, PESGM 2019., 8974133, IEEE Power and Energy Society General Meeting, vol. 2019-August, IEEE Computer Society, 2019 IEEE Power and Energy Society General Meeting, PESGM 2019, Atlanta, United States, 8/4/19. https://doi.org/10.1109/PESGM40551.2019.8974133

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title = "Risk-Sensitive Security-Constrained Economic Dispatch via Critical Region Exploration",

abstract = "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.",

author = "Madavan, {Avinash N.} and Subhonmesh Bose and Ye Guo and Lang Tong",

note = "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.; 2019 IEEE Power and Energy Society General Meeting, PESGM 2019 ; Conference date: 04-08-2019 Through 08-08-2019",

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