Virginia Tech
Statistical Analysis of Electric Energy Markets with Large-Scale Renewable Generation Using Point Estimate Methods
Abstract
dc:description.abstractThe restructuring of the electric energy market and the proliferation of intermittent renewable-energy based power generation have introduced serious challenges to power system operation emanating from the uncertainties introduced to the system variables (electricity prices, congestion levels etc.). In order to economically operate the system and efficiently run the energy market, a statistical analysis of the system variables under uncertainty is needed. Such statistical analysis can be performed through an estimation of the statistical moments of these variables. In this thesis, the Point Estimate Methods (PEMs) are applied to the optimal power flow (OPF) problem to estimate the statistical moments of the locational marginal prices (LMPs) and total generation cost under system uncertainty. An extensive mathematical examination and risk analysis of existing PEMs are performed and a new PEM scheme is introduced. The applied PEMs consist of two schemes introduced by H.P. Hong, namely, the 2n and 2n+1 schemes, and a proposed combination between Hong's and M. E Harr's schemes. The accuracy of the applied PEMs in estimating the statistical moments of system LMPs is illustrated and the performance of the suggested combination of Harr's and Hong's PEMs is shown. Moreover, the risks of the application of Hong's 2n scheme to the OPF problem are discussed by showing that it can potentially yield inaccurate LMP estimates or run into unfeasibility of the OPF problem. In addition, a new PEM configuration is also introduced. This configuration is derived from a PEM introduced by E. Rosenblueth. It can accommodate asymmetry and correlation of input random variables in a more computationally efficient manner than its Rosenblueth's counterpart.
Degree
thesis:*- Name thesis:degree_name
- Master of Science
- Level thesis:degree_level
- masters
- Discipline thesis:degree_discipline
- Electrical Engineering
- Department dc:contributor.department
- Electrical and Computer Engineering
- Grantor dc:publisher
- Virginia Tech
- Year dc:date.issued
- 2014
Author and committee
dc:creator, dc:contributor.*- Author dc:creator
-
- Sanjab, Anibal Jean
- Chairs dc:contributor.committeechair
-
- Evrenosoglu, Cansin Yaman
- Mili, Lamine M.
- Committee member dc:contributor.committeemember
-
- De La Ree, Jaime
Subjects
dc:subject × 7Rights
dc:rights- Statement dc:rights
-
- In Copyright
- Licence dc:rights.uri
Identifiers
dc:identifier.*- Dc Identifier Other
- vt_gsexam:3051
- OAI identifier oai:identifier
- oai:vtechworks.lib.vt.edu:10919/74356