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Article: Coherent reliability index for generation system operation and its optimization model
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TitleCoherent reliability index for generation system operation and its optimization model
 
AuthorsZhou, H2
Lou, SH2
Wu, YW2
Hou, YH1
Wu, FF1
Mao, CX2
 
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
 
CitationZhongguo Dianji Gongcheng Xuebao/Proceedings Of The Chinese Society Of Electrical Engineering, 2009, v. 29 n. 13, p. 72-79 [How to Cite?]
 
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.
 
ISSN0258-8013
2013 SCImago Journal Rankings: 0.965
 
ReferencesReferences in Scopus
 
DC FieldValue
dc.contributor.authorZhou, H
 
dc.contributor.authorLou, SH
 
dc.contributor.authorWu, YW
 
dc.contributor.authorHou, YH
 
dc.contributor.authorWu, FF
 
dc.contributor.authorMao, CX
 
dc.date.accessioned2010-05-31T03:37:03Z
 
dc.date.available2010-05-31T03:37:03Z
 
dc.date.issued2009
 
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.
 
dc.description.natureLink_to_subscribed_fulltext
 
dc.identifier.citationZhongguo Dianji Gongcheng Xuebao/Proceedings Of The Chinese Society Of Electrical Engineering, 2009, v. 29 n. 13, p. 72-79 [How to Cite?]
 
dc.identifier.epage79
 
dc.identifier.hkuros162422
 
dc.identifier.issn0258-8013
2013 SCImago Journal Rankings: 0.965
 
dc.identifier.issue13
 
dc.identifier.scopuseid_2-s2.0-65649129997
 
dc.identifier.spage72
 
dc.identifier.urihttp://hdl.handle.net/10722/58796
 
dc.identifier.volume29
 
dc.languageeng
 
dc.publisherZhongguo Dianji Gongcheng Xuehui. The Journal's web site is located at http://www.dwjs.com.cn
 
dc.publisher.placeChina
 
dc.relation.ispartofZhongguo Dianji Gongcheng Xuebao/Proceedings of the Chinese Society of Electrical Engineering
 
dc.relation.referencesReferences in Scopus
 
dc.subjectCoherent reliability measure
 
dc.subjectConditional reserve at risk
 
dc.subjectGeneration system
 
dc.subjectOptimization model of CRaR
 
dc.subjectReliability index
 
dc.titleCoherent reliability index for generation system operation and its optimization model
 
dc.typeArticle
 
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<contributor.author>Lou, SH</contributor.author>
<contributor.author>Wu, YW</contributor.author>
<contributor.author>Hou, YH</contributor.author>
<contributor.author>Wu, FF</contributor.author>
<contributor.author>Mao, CX</contributor.author>
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Author Affiliations
  1. The University of Hong Kong
  2. Huazhong University of Science and Technology