Using VaR and CVaR techniques to calculate the long-term operational reserve

Leonardo Bremermann, Mauro Rosa, Pablo Galvis, Caio Nakasone, Leonel Carvalho, Fernando Santos

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

3 Citations (Scopus)

Abstract

Generally, the more Renewable Energy Sources (RES) in generation mix the more complex is the problem of reliability assessment of generating systems, mainly because of the variability and uncertainty of generating capacity. These short-term concerns have been seen as a way of controlling the amount of spinning reserve, providing operators with information on operation system risks. For the medium and long-term assessment, such short-term concerns should be accounted for the system performance [1,2], assuring that investment options will result in more robust and flexible generating configurations that are consequently more secure. In order to deal with the spinning reserve needs, this work proposes the use of a risk based technique, Value-at-Risk and Conditional Value-at-Risk, to assist the planners of the Electric Power Systems (EPS) as regards the design of the flexibility of generating systems. This methodology was applied in the IEEE-RTS-96 HW producing adequate results.

Original languageEnglish
Title of host publication2016 International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2016 - Proceedings
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781509019700
DOIs
Publication statusPublished - 1 Dec 2016
Externally publishedYes
Event2016 International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2016 - Beijing, China
Duration: 16 Oct 201620 Oct 2016

Publication series

Name2016 International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2016 - Proceedings

Conference

Conference2016 International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2016
Country/TerritoryChina
CityBeijing
Period16/10/1620/10/16

Bibliographical note

Publisher Copyright:
© 2016 IEEE.

Keywords

  • Generating Systems
  • Operational Reserve
  • Reliability Analysis

Fingerprint

Dive into the research topics of 'Using VaR and CVaR techniques to calculate the long-term operational reserve'. Together they form a unique fingerprint.

Cite this