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On the Rigorous Evaluation of Stochastic Approaches to Power Systems Operations

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MESW02 - Electricity systems of the future: incentives, regulation and analysis for efficient investment

While
there is significant recent research on stochastic optimization approaches to
power systems operations, e.g., unit commitment and economic dispatch, there
are still major impediments to their adoption in practice. In our experience,
developed over years of attempting to deploy such approaches, one key issue
is accurate evaluation of any proposed approach, relative to existing
deterministic operational methodologies. In this talk, we discuss the
challenges in such evaluation, and report on a novel methodology addressing
what we feel to be deficiencies with current approaches. In the talk, we
focus on issues relating to data availability and segmentation, probabilistic
scenario generation, and the impact of scenarios on operational performance.

This talk is part of the Isaac Newton Institute Seminar Series series.

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