Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View

Detalhes bibliográficos
Autor(a) principal: Paterakis,NG
Data de Publicação: 2017
Outros Autores: Sanchez de la Nieta,AAS, Bakirtzis,AG, Contreras,J, João Catalão
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://repositorio.inesctec.pt/handle/123456789/4828
http://dx.doi.org/10.1109/tste.2016.2635099
Resumo: In this study, a two-stage stochastic programming joint day-ahead energy and reserve scheduling model to address uncertainty in wind power generation is developed. Apart from the generation side, the demand side is also eligible as a reserve resource and is modeled through responsive load aggregations, as well as large industrial loads that directly participate in the scheduling procedure. The main contribution of this paper is the inclusion of a risk metric, namely the conditional value-at-risk, which renders a conceptually different resource scheduling framework. The proposed model is employed in order to analyze the behavior of energy and reserve scheduling by both generation and demand for a risk-averse independent system operator. To reach practical conclusions, the proposed methodology is tested on the real non-interconnected insular power system of Crete, Greece, which is characterized by a significant penetration of wind power generation.
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spelling Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of ViewIn this study, a two-stage stochastic programming joint day-ahead energy and reserve scheduling model to address uncertainty in wind power generation is developed. Apart from the generation side, the demand side is also eligible as a reserve resource and is modeled through responsive load aggregations, as well as large industrial loads that directly participate in the scheduling procedure. The main contribution of this paper is the inclusion of a risk metric, namely the conditional value-at-risk, which renders a conceptually different resource scheduling framework. The proposed model is employed in order to analyze the behavior of energy and reserve scheduling by both generation and demand for a risk-averse independent system operator. To reach practical conclusions, the proposed methodology is tested on the real non-interconnected insular power system of Crete, Greece, which is characterized by a significant penetration of wind power generation.2017-12-22T18:10:14Z2017-01-01T00:00:00Z2017info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://repositorio.inesctec.pt/handle/123456789/4828http://dx.doi.org/10.1109/tste.2016.2635099engPaterakis,NGSanchez de la Nieta,AASBakirtzis,AGContreras,JJoão Catalãoinfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-05-15T10:19:57Zoai:repositorio.inesctec.pt:123456789/4828Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:52:28.694930Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
title Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
spellingShingle Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
Paterakis,NG
title_short Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
title_full Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
title_fullStr Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
title_full_unstemmed Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
title_sort Effect of Risk Aversion on Reserve Procurement With Flexible Demand Side Resources From the ISO Point of View
author Paterakis,NG
author_facet Paterakis,NG
Sanchez de la Nieta,AAS
Bakirtzis,AG
Contreras,J
João Catalão
author_role author
author2 Sanchez de la Nieta,AAS
Bakirtzis,AG
Contreras,J
João Catalão
author2_role author
author
author
author
dc.contributor.author.fl_str_mv Paterakis,NG
Sanchez de la Nieta,AAS
Bakirtzis,AG
Contreras,J
João Catalão
description In this study, a two-stage stochastic programming joint day-ahead energy and reserve scheduling model to address uncertainty in wind power generation is developed. Apart from the generation side, the demand side is also eligible as a reserve resource and is modeled through responsive load aggregations, as well as large industrial loads that directly participate in the scheduling procedure. The main contribution of this paper is the inclusion of a risk metric, namely the conditional value-at-risk, which renders a conceptually different resource scheduling framework. The proposed model is employed in order to analyze the behavior of energy and reserve scheduling by both generation and demand for a risk-averse independent system operator. To reach practical conclusions, the proposed methodology is tested on the real non-interconnected insular power system of Crete, Greece, which is characterized by a significant penetration of wind power generation.
publishDate 2017
dc.date.none.fl_str_mv 2017-12-22T18:10:14Z
2017-01-01T00:00:00Z
2017
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://repositorio.inesctec.pt/handle/123456789/4828
http://dx.doi.org/10.1109/tste.2016.2635099
url http://repositorio.inesctec.pt/handle/123456789/4828
http://dx.doi.org/10.1109/tste.2016.2635099
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/embargoedAccess
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dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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