NDLI: Conditional value at risk-based stochastic unit commitment considering the uncertainty of wind power generation

Content Provider	IET Digital Library
Author	Zhang, Yao Wang, Jianxue Ding, Tao Wang, Xifan
Abstract	This study presents a risk-averse stochastic unit commitment (SUC) model which considers the loss-of-load risk caused by wind power uncertainty. The expected cost of loss-of-load is usually considered in the conventional scenario-based SUC model. However, even if the expected risk of loss-of-load induced by all wind scenarios is low, the risk induced by some extreme scenarios can be very high. Thus, there is a strong will to better control the risk in these cases with high costs but low probabilities. In this study, the management of loss-of-load risk in worst scenarios is addressed by the conditional value-at-risk (CVaR). The proposed SUC model is built in a mixed-integer linear programming formulation and finally solved by a modified Benders decomposition algorithm with two enhancement strategies (Jensen's inequality and multiple cuts generated from all subproblems). Case studies demonstrate that the loss-of-load cost in extreme scenarios decreases after the inclusion of CVaR in the proposed SUC model. The proposed model can also provide multiple unit commitment schedules with different levels of loss-of-load risk. Using enhancement strategies in Benders decomposition drastically reduces the total number of iterations, verifying the effectiveness of the modified Benders decomposition algorithm.
Starting Page	482
Ending Page	489
Page Count	8
ISSN	17518687
Volume Number	12
e-ISSN	17518695
Issue Number	Issue 2, Jan (2018)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/12/2
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2017.0509
Journal	IET Generation, Transmission & Distribution
Publisher Date	2017-09-15
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Conditional Value-at-risk CVaR-based Stochastic Unit Commitment Integer Programming Interpolation And Function Approximation Iterative Method Linear Programming Loss-of-load Risk Management Mixed-integer Linear Programming Formulation Modified Benders Decomposition Algorithm Multiple Unit Commitment Scheduling Numerical Analysis Optimisation Technique Power Generation Dispatch Power Generation Scheduling Power System Economics Power System Managemen Power System Operation Risk Management Risk-averse Stochastic Unit Commitment Model Statistics Stochastic Linearised SCUC Wind Power Generation Uncertainty Wind Power Plant
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Two-stage minimax stochastic unit commitment

Robust risk-averse unit commitment with solar PV systems

Optimal transmission switching in the stochastic linearised SCUC for uncertainty management of the wind power generation and equipment failures

Stochastic scheduling of compressed air energy storage in DC SCUC framework for high wind penetration

Moving beyond the optimal transmission switching: stochastic linearised SCUC for the integration of wind power generation and equipment failures uncertainties

IGDT-based robust optimal utilisation of wind power generation using coordinated flexibility resources

Risk assessment by security-constrained unit commitment for hybrid wind-thermal by pair copula approach in reserve power market: a stochastic approach

Pan-European CVaR-Constrained Stochastic Unit Commitment in Day-Ahead and Intraday Electricity Markets

Research on modelling and solution of stochastic SCUC under AC power flow constraints

Conditional value at risk-based stochastic unit commitment considering the uncertainty of wind power generation

Similar Documents

Two-stage minimax stochastic unit commitment

Robust risk-averse unit commitment with solar PV systems

Optimal transmission switching in the stochastic linearised SCUC for uncertainty management of the wind power generation and equipment failures

Stochastic scheduling of compressed air energy storage in DC SCUC framework for high wind penetration

Moving beyond the optimal transmission switching: stochastic linearised SCUC for the integration of wind power generation and equipment failures uncertainties

IGDT-based robust optimal utilisation of wind power generation using coordinated flexibility resources

Risk assessment by security-constrained unit commitment for hybrid wind-thermal by pair copula approach in reserve power market: a stochastic approach

Pan-European CVaR-Constrained Stochastic Unit Commitment in Day-Ahead and Intraday Electricity Markets

Research on modelling and solution of stochastic SCUC under AC power flow constraints

Conditional value at risk-based stochastic unit commitment considering the uncertainty of wind power generation