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After the day-ahead market is cleared and before the real-time market is started, Independent System Operator (ISO) uses a Reserve Adequacy Assessment (RAA) process to determine supplemental unit commitments to meet the hourly forecasted load and reserve requirements for the next operating day. This paper presents a stochastic programming model for the RAA process to manage the net load uncertainty...
As more and more variable resources and demand response resources being integrated in the electric grid, the grid operation is experiencing increasing level of uncertainties. The decision making process under such environment becomes more challenging. This paper investigates the current risk management practices and proposes a risk management framework for the future grid operation. Under this framework,...
This paper presents a wavelet transform method for load forecasting. The stochastic nature of the wavelet coefficients for the daily load variation is studied by the decomposition scheme of multiresolution analysis (MRA). The study indicates that the stochastic process of the wavelet coefficients can be modeled as a random walk process. Therefore, the wavelet coefficients are modeled as the state...
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