DocumentCode :
1446595
Title :
Grid Monitoring and Market Risk Management
Author :
Guan, Yufan ; Kezunovic, Mladen
Author_Institution :
Texas A&M Univ., College Station, TX, USA
Volume :
26
Issue :
2
fYear :
2011
Firstpage :
18
Lastpage :
21
Abstract :
The advent of electricity market deregulation has placed great emphasis on information availability and analysis and the subsequent decision making to optimize system operation in a competitive environment. This creates a need for better ways to correlate market activity with the physical grid-operating states in real time and share such information among market participants. Command and control choices might result in different financial consequences for market participants and severely impact their profits. The effects are both short term, as in day-ahead and real-time markets for energy, reserves, and congestion relief, and long term, as in investments in transmission and generation capacity. Be cause of this, new solutions are necessary to integrate grid control and market operations while accounting for both good engineering practices and appropriate economic incentives.
Keywords :
grid computing; power engineering computing; power markets; risk analysis; electricity market deregulation; generation capacity; grid monitoring; market risk management; physical grid-operating states; Artificial intelligence; Circuit breakers; Circuit faults; Power grids; Power markets; Power system management; Real time systems; Risk management; Intelligent systems; Petri nets; energy management; market complexity;
fLanguage :
English
Journal_Title :
Intelligent Systems, IEEE
Publisher :
ieee
ISSN :
1541-1672
Type :
jour
DOI :
10.1109/MIS.2011.6
Filename :
5710863
Link To Document :
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