Component Outage Estimation based on Support Vector Machine

Predicting power system component outages in response to an imminent hurricane plays a major role in preevent planning and post-event recovery of the power system. An exact prediction of components states, however, is a challenging task and cannot be easily performed. In this paper, a Support Vector Machine (SVM) based method is proposed to help estimate the components states in response to anticipated path and intensity of an imminent hurricane. Components states are categorized into three classes of damaged, operational, and uncertain. The damaged components along with the components in uncertain class are then considered in multiple contingency scenarios of a proposed Event-driven Security-Constrained Unit Commitment (E-SCUC), which considers the simultaneous outage of multiple components under an N-m-u reliability criterion. Experimental results on the IEEE 118-bus test system show the merits and the effectiveness of the proposed SVM classifier and the E-SCUC model in improving power system resilience in response to extreme events

Power Grid Management in Response to Extreme Events

Power system management in response to extreme events is one the most important operational aspects of power systems. In this thesis, a novel Event-driven Security Constrained Unit Commitment (E-SCUC) model and a statistical method, based on regression and data mining to estimate the system components outages, are proposed. The proposed models help consider the simultaneous outage of several system components represented by an N-1-m reliability criterion and accordingly determine the proper system response. In addition, an optimal microgrid placement model with the objective of minimizing the cost of unserved energy to enhance power system resilience is proposed. The numerical simulations on the standard IEEE 30-bus and IEEE 118-bus test systems exhibit the merits and applicability of the proposed E-SCUC model, as well as the advantages of the data mining approach in estimating component outage, and the effectiveness of the optimal microgrid placement in ensuring an economic operation under normal conditions and a resilient operation under contingency cases

Adaptive Robust Optimization with Dynamic Uncertainty Sets for Multi-Period Economic Dispatch under Significant Wind

The exceptional benefits of wind power as an environmentally responsible renewable energy resource have led to an increasing penetration of wind energy in today's power systems. This trend has started to reshape the paradigms of power system operations, as dealing with uncertainty caused by the highly intermittent and uncertain wind power becomes a significant issue. Motivated by this, we present a new framework using adaptive robust optimization for the economic dispatch of power systems with high level of wind penetration. In particular, we propose an adaptive robust optimization model for multi-period economic dispatch, and introduce the concept of dynamic uncertainty sets and methods to construct such sets to model temporal and spatial correlations of uncertainty. We also develop a simulation platform which combines the proposed robust economic dispatch model with statistical prediction tools in a rolling horizon framework. We have conducted extensive computational experiments on this platform using real wind data. The results are promising and demonstrate the benefits of our approach in terms of cost and reliability over existing robust optimization models as well as recent look-ahead dispatch models.Comment: Accepted for publication at IEEE Transactions on Power System

Patent collateral, investor commitment, and the market for venture lending

This paper investigates the market for lending to technology startups (i.e., venture lending) and examines two mechanisms that may facilitate trade within it: (1) the ‘salability’ of patent collateral; and (2) the credible commitment of existing equity investors. We find that intensified trading in the secondary patent market is strongly related to the annual rate of startup lending, particularly for startups with more redeployable patent assets. Moreover, we show that the credibility of venture capitalist commitments to reinvest in their startups’ next round of financing can be critical for startup debt provision. Utilizing the crash of 2000 as a severe and unexpected capital supply shock for VCs, we show that lenders continue to finance startups with recently funded investors better able to credibly commit to refinance their portfolio companies, but withdraw from otherwise-promising projects that may have needed their funds the most. The findings are consistent with predictions of incomplete contracting and financial intermediation theory.Accepted manuscrip

Review of trends and targets of complex systems for power system optimization

Optimization systems (OSs) allow operators of electrical power systems (PS) to optimally operate PSs and to also create optimal PS development plans. The inclusion of OSs in the PS is a big trend nowadays, and the demand for PS optimization tools and PS-OSs experts is growing. The aim of this review is to define the current dynamics and trends in PS optimization research and to present several papers that clearly and comprehensively describe PS OSs with characteristics corresponding to the identified current main trends in this research area. The current dynamics and trends of the research area were defined on the basis of the results of an analysis of the database of 255 PS-OS-presenting papers published from December 2015 to July 2019. Eleven main characteristics of the current PS OSs were identified. The results of the statistical analyses give four characteristics of PS OSs which are currently the most frequently presented in research papers: OSs for minimizing the price of electricity/OSs reducing PS operation costs, OSs for optimizing the operation of renewable energy sources, OSs for regulating the power consumption during the optimization process, and OSs for regulating the energy storage systems operation during the optimization process. Finally, individual identified characteristics of the current PS OSs are briefly described. In the analysis, all PS OSs presented in the observed time period were analyzed regardless of the part of the PS for which the operation was optimized by the PS OS, the voltage level of the optimized PS part, or the optimization goal of the PS OS.Web of Science135art. no. 107

Developing a simulator for the Greek electricity market

Following the liberalization of the Greek electricity market, the Greek Regulatory Authority for Energy (RAE) undertook the design and implementation of a simulator for the wholesale market and its interactions with the Natural Gas Transportation System. The simulator consists of several interacting modules representing all key market operations and dynamics including (i) day-ahead scheduling based on bids of market participants, (ii) natural gas system constraints, (iii) unplanned variability of loads and available capacity driven either by uncertain stochastic outcomes or deliberate participant schedule deviations, (iv) real time dispatch, and (v) financial settlement of day ahead and real time schedule differences. The modules are integrated into one software package capable of simulating all market dynamics, deliberate or probabilistic, and their interactions across all relevant time scales. The intended use of the simulator is to elaborate on and allow RAE to investigate the impact of participant decision strategies on market outcomes. The ultimate purpose is to evaluate the effectiveness of Market Rules, whether existing or contemplated, in providing incentives for competitive behaviour and in discouraging gaming and market manipulation. This paper describes the development of the simulator relative to the current Greek Electricity Market Design and key contemplated revisions.simulation; regulatory policy; electricity markets; market design;

Convolutional Neural Network-based RoCoF-Constrained Unit Commitment

The fast growth of inverter-based resources such as wind plants and solar farms will largely replace and reduce conventional synchronous generators in the future renewable energy-dominated power grid. Such transition will make the system operation and control much more complicated; and one key challenge is the low inertia issue that has been widely recognized. However, locational post-contingency rate of change of frequency (RoCoF) requirements to accommodate significant inertia reduction has not been fully investigated in the literature. This paper presents a convolutional neural network (CNN) based RoCoF-constrained unit commitment (CNN-RCUC) model to guarantee RoCoF stability following the worst generator outage event while ensuring operational efficiency. A generic CNN based predictor is first trained to track the highest locational RoCoF based on a high-fidelity simulation dataset. The RoCoF predictor is then formulated as MILP constraints into the unit commitment model. Case studies are carried out on the IEEE 24-bus system, and simulation results obtained with PSS/E indicate that the proposed method can ensure locational post-contingency RoCoF stability without conservativeness