Risk and unit commitment decisions in scenarios of wind power uncertainty

• Type: Article in International Scientific Journal
• Date: 2016

Authors

Pinto, MSS (Author) Other; Vladimiro Miranda (Author) FEUP; Saavedra, OR (Author) Other

Journal

Title: Renewable Energy

Vol. 97

Pages: 550-558

ISSN: 0960-1481

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 12 Citations

Scopus - 22 Citations

Other information

Authenticus ID: P-00K-JHR

DOI: 10.1016/j.renene.2016.05.037

Abstract (EN): This paper addresses the problem of decision making in Unit Commitment in systems with a significant penetration of wind power. Traditional approaches to Unit Commitment are inadequate to fully deal with the uncertainties associated to wind, represented by scenarios of forecasted wind power qualified by probabilities. Departing from a critique of planning paradigms, the paper argues that a stochastic programming approach, while a step in the good direction, is insufficient to model all aspects of the decision process and therefore proposes the adoption of models based on a Risk Analysis paradigm. A case study is worked out reinforcing this perspective. In a multi-objective context, the properties of the cost vs. risk Pareto-optimal fronts are analyzed, where risk may be represented by aversion to a worst scenario or a worst event. It is shown that the Pareto-optimal front may not be convex, which precludes a simplistic use of tradeoff concepts. It is also shown that decisions based on stochastic programming may in fact put the system at risk. An evaluation of risk levels and cost of hedging against undesired events is proposed as the paradigm to be followed in Unit Commitment decision making. (C) 2016 Published by Elsevier Ltd.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 9