| Title |
Evaluation of Load-Following Reserves for Power Systems with Significant RES Penetration considering Risk Management |
| Authors |
Paterakis, Nikolaos G. , SÁNCHEZ DE LA NIETA LÓPEZ, AGUSTÍN ALEANDRO, Catalao, Joao P. S. , Bakirtzis, Anastasios G. , Ntomaris, Andreas , Contreras, Javier , IEEE |
| External publication |
Si |
| Means |
2015 Ieee International Conference On Smart Energy Grid Engineering (sege 2015) |
| Scope |
Proceedings Paper |
| Nature |
Científica |
| Publication date |
01/01/2015 |
| ISI |
000380482000001 |
| Abstract |
In this study a novel two-stage stochastic programming based day-ahead joint energy and reserve scheduling model is developed. Demand-side as a reserve resource is explicitly modeled through responsive load aggregations, as well as large industrial consumers that directly participate in the scheduling procedure. Furthermore, a risk-hedging measure is introduced, namely the Conditional Value-at-Risk (CVaR), to analyze the behavior of energy and reserve scheduling by both the generation and the demand-side for a risk-averse ISO. The proposed methodology is tested on the practical non-interconnected insular power system of Crete, Greece, which is characterized by a significant penetration of Renewable Energy Sources (RES). |
| Keywords |
ancillary services; conditional value-at-risk (CVaR); demand response; risk-aversion |
| Universidad Loyola members |
|
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