Abstract
Electric power systems and the companies and customers that interact with them are experiencing increasing levels of uncertainty due to factors such as renewable energy generation, market liberalization and climate change. This raises the important question of how to make optimal decisions under uncertainty. This paper aims to provide an overview of existing methods for modeling and optimization of problems affected by uncertainty, targeted at researchers with a familiarity with power systems and optimization. Furthermore, we provide a review of some important applications of optimization under uncertainty in power systems, as well as an outlook to future directions of research.
Original language | English |
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Article number | 108725 |
Journal | Electric Power Systems Research |
Volume | 214 |
Issue number | Part A |
Number of pages | 32 |
ISSN | 0378-7796 |
DOIs | |
Publication status | Published - 2023 |
Event | XXII Power Systems Computation Conference - University of Porto, Porto, Portugal Duration: 27 Jun 2022 → 1 Jul 2022 Conference number: 22 https://pscc2022.pt/ |
Conference
Conference | XXII Power Systems Computation Conference |
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Number | 22 |
Location | University of Porto |
Country/Territory | Portugal |
City | Porto |
Period | 27/06/2022 → 01/07/2022 |
Internet address |
Keywords
- Stochastic optimization
- Robust optimization
- Chance-constrained optimization
- Electric power system