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Conference Paper: Operating reserve value at risk

TitleOperating reserve value at risk
Authors
KeywordsOperating reserve
Risk assessment
System loss of value
System outage
Value at risk
Issue Date2006
PublisherIEEE.
Citation
2006 Ieee Power Engineering Society General Meeting, Pes, 2006 How to Cite?
AbstractOperating reserve is traditionally determined as a fixed percentage of the peak load or the largest contingency in a system. In this paper, the probabilistic nature of operating reserve is considered. A risk assessment based approach is proposed to analysis the value of operating reserve. In the proposed approach, the value at risk of a power system is first calculated base on Forced Outage Rates of units. Then, according to the values of system outages, the probability of system loss of value is calculated. Considering operating reserve, the reserve value at risk is obtained by comparing the system loss of values with and without reserve at the same risk level. In the study case, data of IEEE Reliability Test System is used to test the proposed approach. © 2006 IEEE.
Persistent Identifierhttp://hdl.handle.net/10722/45898
References

 

DC FieldValueLanguage
dc.contributor.authorZhong, Jen_HK
dc.contributor.authorWu, FFen_HK
dc.date.accessioned2007-10-30T06:38:02Z-
dc.date.available2007-10-30T06:38:02Z-
dc.date.issued2006en_HK
dc.identifier.citation2006 Ieee Power Engineering Society General Meeting, Pes, 2006en_HK
dc.identifier.urihttp://hdl.handle.net/10722/45898-
dc.description.abstractOperating reserve is traditionally determined as a fixed percentage of the peak load or the largest contingency in a system. In this paper, the probabilistic nature of operating reserve is considered. A risk assessment based approach is proposed to analysis the value of operating reserve. In the proposed approach, the value at risk of a power system is first calculated base on Forced Outage Rates of units. Then, according to the values of system outages, the probability of system loss of value is calculated. Considering operating reserve, the reserve value at risk is obtained by comparing the system loss of values with and without reserve at the same risk level. In the study case, data of IEEE Reliability Test System is used to test the proposed approach. © 2006 IEEE.en_HK
dc.format.extent141165 bytes-
dc.format.extent12538 bytes-
dc.format.extent2759 bytes-
dc.format.mimetypeapplication/pdf-
dc.format.mimetypetext/plain-
dc.format.mimetypetext/plain-
dc.languageengen_HK
dc.publisherIEEE.en_HK
dc.relation.ispartof2006 IEEE Power Engineering Society General Meeting, PESen_HK
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.rights©2006 IEEE. Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.en_HK
dc.subjectOperating reserveen_HK
dc.subjectRisk assessmenten_HK
dc.subjectSystem loss of valueen_HK
dc.subjectSystem outageen_HK
dc.subjectValue at risken_HK
dc.titleOperating reserve value at risken_HK
dc.typeConference_Paperen_HK
dc.identifier.emailZhong, J: jinzhong@hkucc.hku.hken_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.authorityZhong, J=rp00212en_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.description.naturepublished_or_final_versionen_HK
dc.identifier.doi10.1109/PES.2006.1708859en_HK
dc.identifier.scopuseid_2-s2.0-35348837201en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-35348837201&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.scopusauthoridZhong, J=13905948700en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK

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