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Cascading failure in electric power systems is a complicated problem for which a variety of models, software tools, and analytical tools have been proposed but are difficult to verify. Benchmarking and validation are necessary to understand how closely a particular modeling method corresponds to reality, what engineering conclusions may be drawn from a particular tool, and what improvements need to...
Risk Limiting Dispatch (RLD) is a new framework that integrates complex inputs and allows decision makers to balance tradeoffs and quantify benefits from increased flexibility and improved forecasting. This paper describes a process of forward-contracting for production capacity while considering the full range of operational uncertainties in generation, demand, forecasts, prices, and the risks of...
Summary form only given. This paper provides a new framework for modelling uncertainty in the input data for power system risk calculations, and the error bars that this places on the results. Differently from previous work, systematic error in unit availability probabilities is considered as well as random error, and a closed-form expression is supplied for the error bars on the results. This closed-form...
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