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| 1 | Automatic Slow Voltage Controller for Large Power Systems
Presentation slides for January 2003 seminar.
Automatic control of system voltages provides advantages in terms of
security, economy and ease of system operation. The seminar discusses
a model-based slow voltage controller for coordinating the switching
of discrete voltage control devices including capacitor/reactor banks
and autotransformers in any large power system. The controller was
motivated towards the voltage dispatch of the western Oregon subsystem
of the Pacific Northwest, being operated by Bonneville Power
Administration (BPA). The controller has been developed in close
collaboration with BPA planning and operating engineers, as well as
the system operators (visits to BPA control center Munro to observe
SCADA operators). The controller has been approved for prototype
implementation at BPA. | Mani Venkatasubramanian | 1/22/2003 | 347.9k | PDF |
| 2 | Mean--Variance Portfolio Selection with Random Parameters
Presentation slides for the February 2003 seminar.
This talk concerns the problems of quadratic hedging and mean-variance portfolio selection in an incomplete market with continuous trading, multiple assets, and Brownian information. In particular, we consider the case where the parameters describing the market model (drift and volatility) are random processes. Such a situation arises, for instance, when the drift and volatility coefficients are estimated online using real-time data. We approach these problems from the perspective of linear-quadratic (LQ) optimal control and backward stochastic differential equations (BSDEs); that is, we focus on the so-called stochastic Riccati equation (SRE) associated with the problem. Our primary theoretical contribution is a proof of existence and uniqueness of solutions of the SRE associated with the quadratic hedging and mean-variance problems. In addition, we derive closed form expressions for the optimal portfolios and efficient frontier in terms of the solution of the SRE. A generalization of the Mutual Fund Theorem is also obtained. An application of these results to the problem of optimal hedging of a partially observed liability will also be discussed. | Andrew Lim | 2/3/2003 | 134.0k | PDF |
| 3 | Locational Pricing and Scheduling for an Integrated Energy-Reserve Market
It is well known that given a network that can become constrained on voltage or real power flows, reserves must also be spatially located in order to handle all credible contingencies. However, to date, there is no credible science-based method for assigning and pricing reserves in this way. Presented in this talk is a new scheduling algorithm incorporating constraints imposed by grid security considerations, which include one base case (intact system) and a list of possible contingencies (line-out, unit-lost, and load-growth) of the system. By following a cost-minimizing co-optimization procedure, both power and reserve are allocated spatially for the combined energy and reserve markets. With the Lagrange multipliers (dual variables) obtained, the scheduling algorithm also reveals the locational shadow prices for the reserve and energy requirements. Unlike other pricing and scheduling methods in use, which are usually ad-hoc and based on engineering judgment and experience, this proposed formulation is likely to perform better in restructured markets when market power is a potential problem. An illustrative example of a modified IEEE 30-bus system is used to introduce concepts and present results. In addition, market experiments were performed with human subjects and with various rules for paying for the reserves. The results of these experiments are discussed as well as implications for future market design. | James S. Thorp and Timothy D. Mount | 5/9/2003 | 1.0M | PDF |
| 4 | Valuation of Congestion Revenue Rights Based on Power Market Simulation Models
Presentation slides for the April 2003 Internet Seminar
We propose a detailed AC network based power market simulation model for evaluating congestion revenue rights such as Financial Transmission Rights (FTRs) and Flowgate Rights (FGRs). A multilateral power transaction model and a non-conforming electric load model are introduced to better reflect the practical situations. Nodal prices and shadow prices of power system constraints are computed from appropriately formulated optimization models. The FTR and FGR values are then derived from nodal prices and shadow prices. Under market uncertainty such as random system loads, Monte Carlo simulation is employed to obtain the respective probabilistic value distributions of FTRs and FGRs. We demonstrate this approach through small test systems and examine the sensitivity of the FTR/FGR value distribution with respect to transmission constraints in this sample system. | Shijie Deng | 4/1/2003 | 621.1k | PDF |
| 5 | Condition Assessment of Polymer Insulators
PSERC Internet Seminar on June 3, 1-2 pm Central Time.
Eliminating unwanted power outages is key to improving reliability of power transmission and distribution. Utilities perform regular inspections of their network to identify insulators that need to be replaced. The tools available to help in deciding which insulators to replace use very simple to reasonably sophisticated methods. This seminar describes the most widely employed methods, and assesses their successes and shortcomings. New research data will be presented that will assist engineers in choosing among alternative tools supporting insulator replacement decisions. | Ravi Gorur | 9/10/2003 | 1.8M | PDF |
| 6 | The Influence of Large-Scale Wind-Power on Global Climate
PSERC Seminar on September 2, 2003
While the local environmental and aesthetic impacts of wind power have been seriously explored, there has been little assessment of the climatic impacts of wind turbines at any scale. We report numerical simulations using two General Circulation Models that address the possible climatic impacts of wind power at scales from regional to global. | David Keith | 11/4/2003 | 19.9k | PDF |
| 7 | Operational Defense of Power System Cascading Sequences: Probability, Prediction, and Mitigation
PSERC Tele-Seminar on Oct. 7, 2-3 eastern time
The August 14, 2003 blackout in the Canada and the U.S. has predictably raised interest in the integrity of power transmission systems, operational security assessment practices, and associated control-room decision-making. Such decision-making has traditionally been based on assessment of relatively high-probability events for recognizing alert states and identifying preventive actions necessary to return to the secure state. These events typically include most N-1 events and some higher-order events (e.g., two circuits on the same tower). In general, however, preventive action is not taken for N-k events (where k>1) because such events are perceived to have very low probability. Yet, low-probability events are often involved in high consequence scenarios, such as observed on August 14. This talk describes an approach, developed in research on complex interactive networks, for identifying and mitigating N-k events in operations. | Jim McCalley | 10/6/2003 | 806.5k | PDF |
| 8 | Assessment of Transmission Congestion Impacts on Electricity Markets
PSERC Tele-seminar on Tuesday, Nov. 4 (1-2 CST)
Congestion in the transmission network has become a critical problem for electricity markets in the competitive power industry. Congestion has a wide range of impacts ranging from the way the system is operated to the behavior of each market player in the congestion-modified market. The presence of congestion may prevent the use of the lowest-priced resources to meet the demand and may, in addition, facilitate the attempt of a particular seller to exercise local market power. Many observers of the industry see congestion as a key barrier for the establishment of vibrant competitive markets. This presentation focuses on the impacts of congestion on the individual market players and the market as a whole, in general, and the quantification of these impacts when a seller attempts to exercise market power by varying its offer prices, in particular. Throughout the talk, we provide a good intuitive explanation of the impacts of congestion by explaining this phenomenon on a simple system. We also show the role of price-responsive demand in the mitigation of the possible exercise of market power. In terms of the individual players, there are other players who benefit from the attempt to exercise market power by a particular seller, the so-called free riders. Also, there are others who are negatively impacted. In terms of the entire market, there is a reduction in the market efficiency due to the attempt of a particular seller to exercise market power. A common characteristic found from the extensive simulations is the boundedness of the congestion impacts in the presence of price-responsive demand due to their asymptotic nature. We illustrate quantitatively the congestion impacts using different test systems of various sizes.
Viewable with Adobe Acrobat 4.0 and higher | George Gross | 11/4/2003 | 334.4k | PDF |
| 9 | Power Acceptability
PSERC Tele-seminar, Dec. 2, 1:00-2:00 p.m. Central Standard Time
Power acceptability is the ability of power system loads to utilize electric power at points of delivery. Usually the term applies to primary distribution systems, although sometimes power acceptability is applied to secondary distribution systems and even to transmission systems. In this presentation, several methods of measurement of power acceptability are presented, and both momentary and continuous events are considered. A highlight is the CBEMA curve for power acceptability determination. This is a widely used tool that has stood the test of time – and a new interpretation of the CBEMA curve is described. Methods of improving power quality through innovative methods are discussed. Another power acceptability tool, the energy unserved index, is described. Also, the common utility company tools of SAIDI and SAIFI are defined and discussed. The main research areas in power acceptability are presented as offerings for future study. | G.T. Heydt | 11/18/2003 | 726.5k | PDF |
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