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Wind power forecasting is one of the most important aspects for power system with integration of wind power. In this work, Component GARCH-M (CGARCH-M) model is presented for short-term wind power forecasting (STWPF). Moreover, asymmetric and distributional considerations are taken into account to generalize the CGARCH-M type models. The CGARCH-M type models can decompose the volatility structure...
This paper focuses on a wind power forecast monitoring system for the need of a Transmission System Operator, using a case of Finland as an example. Wind power monitoring tool development was done closely with the operators from the TSO's control room to make sure all information needed for system operation was captured. The system operators highlighted the need for simple graphical views, with warnings...
Risk-limiting dispatch (RLD) is a promising approach to deal with the increasing uncertainty in both supply side and demand side of power systems. However, the conventional RLD has two drawbacks: i) it is difficult to set the value of acceptable risk level; ii) it has limitations to address the scenario with more realistic but non-Gaussian and heavy-tailed renewable output forecasting errors. To resolve...
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