Title :
Finitely Adaptive Linear Programming in Robust Power System Optimization
Author :
A. T. Saric;A. M. Stankovic
Author_Institution :
College of Engineering, Northeastern University, Boston, USA. e-mail: asaric,@ece.neu.edu
fDate :
7/1/2007 12:00:00 AM
Abstract :
The paper explores applications of the finitely adaptable robust linear programming (LP) to deregulated power systems using the example of locational marginal prices (LMPs). The decision-maker can often obtain additional information about the realization of the uncertainty before committing to a decision (e.g., LMPs as outputs from day-ahead market). The paper derives necessary and sufficient conditions that any finitely adaptive scheme must satisfy in order to improve the robust solution by a pre-specified amount. The proposed algorithm increases adaptability, and bridges the gap between the robust formulation and the re-optimization (or fully adjustable) formulation. It also offers an alternative to probabilistic, risk-based frameworks. The finitely adaptable model is verified on two benchmark examples: a small (8 buses/13 lines) and medium (300 nodes/411 lines).
Keywords :
"Linear programming","Robustness","Power systems","Uncertainty","Power system modeling","Bridges","Sufficient conditions","Optimization methods","Power system economics","Power system security"
Conference_Titel :
Power Tech, 2007 IEEE Lausanne
Print_ISBN :
978-1-4244-2189-3
DOI :
10.1109/PCT.2007.4538504