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Article: Coherent reliability index for generation system operation and its optimization model

TitleCoherent reliability index for generation system operation and its optimization model
Authors
KeywordsCoherent reliability measure
Conditional reserve at risk
Generation system
Optimization model of CRaR
Reliability index
Issue Date2009
PublisherZhongguo Dianji Gongcheng Xuehui. The Journal's web site is located at http://www.dwjs.com.cn
Citation
Zhongguo Dianji Gongcheng Xuebao/Proceedings Of The Chinese Society Of Electrical Engineering, 2009, v. 29 n. 13, p. 72-79 How to Cite?
Abstract
By analogizing finance risk measures of value at risk and conditional value at risk, two corresponding measures for power system reliability measures were introduced, called reserve-at-risk (RaR) and conditional reserve-at-risk (CRaR), of which CRaR is a coherent measure. Universal optimization model of CRaR was established and a performance function was proposed, by which CRaR can be computed without its definition. It is proved that CRaR, which maximizes the system risk reserve, can be obtained through optimizing the performance function and the model is a convex optimization problem with the local optimal solution equaling to its global solution. An example of modeling purchasing strategy optimization in generation capacity market was applied for simulation test. Numerical results and analysis validate the proposed indices and models. © 2009 Chin.Soc.for Elec.Eng.
Persistent Identifierhttp://hdl.handle.net/10722/58796
ISSN
2013 SCImago Journal Rankings: 0.965
References

 

Author Affiliations
  1. The University of Hong Kong
  2. Huazhong University of Science and Technology
DC FieldValueLanguage
dc.contributor.authorZhou, Hen_HK
dc.contributor.authorLou, SHen_HK
dc.contributor.authorWu, YWen_HK
dc.contributor.authorHou, YHen_HK
dc.contributor.authorWu, FFen_HK
dc.contributor.authorMao, CXen_HK
dc.date.accessioned2010-05-31T03:37:03Z-
dc.date.available2010-05-31T03:37:03Z-
dc.date.issued2009en_HK
dc.identifier.citationZhongguo Dianji Gongcheng Xuebao/Proceedings Of The Chinese Society Of Electrical Engineering, 2009, v. 29 n. 13, p. 72-79en_HK
dc.identifier.issn0258-8013en_HK
dc.identifier.urihttp://hdl.handle.net/10722/58796-
dc.description.abstractBy analogizing finance risk measures of value at risk and conditional value at risk, two corresponding measures for power system reliability measures were introduced, called reserve-at-risk (RaR) and conditional reserve-at-risk (CRaR), of which CRaR is a coherent measure. Universal optimization model of CRaR was established and a performance function was proposed, by which CRaR can be computed without its definition. It is proved that CRaR, which maximizes the system risk reserve, can be obtained through optimizing the performance function and the model is a convex optimization problem with the local optimal solution equaling to its global solution. An example of modeling purchasing strategy optimization in generation capacity market was applied for simulation test. Numerical results and analysis validate the proposed indices and models. © 2009 Chin.Soc.for Elec.Eng.en_HK
dc.languageengen_HK
dc.publisherZhongguo Dianji Gongcheng Xuehui. The Journal's web site is located at http://www.dwjs.com.cnen_HK
dc.relation.ispartofZhongguo Dianji Gongcheng Xuebao/Proceedings of the Chinese Society of Electrical Engineeringen_HK
dc.subjectCoherent reliability measureen_HK
dc.subjectConditional reserve at risken_HK
dc.subjectGeneration systemen_HK
dc.subjectOptimization model of CRaRen_HK
dc.subjectReliability indexen_HK
dc.titleCoherent reliability index for generation system operation and its optimization modelen_HK
dc.typeArticleen_HK
dc.identifier.emailHou, YH: yhhou@hku.hken_HK
dc.identifier.emailWu, FF: ffwu@eee.hku.hken_HK
dc.identifier.authorityHou, YH=rp00069en_HK
dc.identifier.authorityWu, FF=rp00194en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.scopuseid_2-s2.0-65649129997en_HK
dc.identifier.hkuros162422en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-65649129997&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume29en_HK
dc.identifier.issue13en_HK
dc.identifier.spage72en_HK
dc.identifier.epage79en_HK
dc.publisher.placeChinaen_HK
dc.identifier.scopusauthoridZhou, H=7404742185en_HK
dc.identifier.scopusauthoridLou, SH=8629780000en_HK
dc.identifier.scopusauthoridWu, YW=7406898040en_HK
dc.identifier.scopusauthoridHou, YH=7402198555en_HK
dc.identifier.scopusauthoridWu, FF=7403465107en_HK
dc.identifier.scopusauthoridMao, CX=7201498051en_HK

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