Power Systems Optimization under Uncertainty: A Review of Methods and Applications

Line Roald*, David Pozo, Anthony Papavasiliou, Daniel K. Molzahn, Jalal Kazempour, Antonio J. Conejo

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

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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 languageEnglish
Article number108725
JournalElectric Power Systems Research
Volume214
Issue numberPart A
Number of pages32
ISSN0378-7796
DOIs
Publication statusPublished - 2023
EventXXII Power Systems Computation Conference - University of Porto, Porto, Portugal
Duration: 27 Jun 20221 Jul 2022
Conference number: 22
https://pscc2022.pt/

Conference

ConferenceXXII Power Systems Computation Conference
Number22
LocationUniversity of Porto
Country/TerritoryPortugal
CityPorto
Period27/06/202201/07/2022
Internet address

Keywords

  • Stochastic optimization
  • Robust optimization
  • Chance-constrained optimization
  • Electric power system

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