Economic Dispatch Problem based on Risk-Seeking IGDT approach

Julio Cuenca Tinitana; Carlos Correa-Florez; Diego Patino; José Vuelvas; Leonel Aleaga; Jorge Carrión

doi:10.1109/ICECCME57830.2023.10252591

Economic Dispatch Problem based on Risk-Seeking IGDT approach

Julio Cuenca Tinitana
, Carlos Correa-Florez
, Diego Patino
, José Vuelvas
, Leonel Aleaga
, Jorge Carrión

Department of Electronic Engineering

Universidad Nacional de Loja

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.

Original language	English
Title of host publication	International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9798350322972
DOIs	https://doi.org/10.1109/ICECCME57830.2023.10252591
State	Published - 2023
Event	2023 International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023 - Tenerife, Canary Islands, Spain Duration: 19 Jul 2023 → 21 Jul 2023

Publication series

Name	International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023

Conference

Conference	2023 International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023
Country/Territory	Spain
City	Tenerife, Canary Islands
Period	19/07/23 → 21/07/23

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

economic dispatch
renewable generation
renewable integration
risk-seeking
uncertainty

Access to Document

10.1109/ICECCME57830.2023.10252591

Cite this

Tinitana, J. C., Correa-Florez, C., Patino, D., Vuelvas, J., Aleaga, L., & Carrión, J. (2023). Economic Dispatch Problem based on Risk-Seeking IGDT approach. In International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023 (International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ICECCME57830.2023.10252591

Tinitana, Julio Cuenca ; Correa-Florez, Carlos ; Patino, Diego et al. / Economic Dispatch Problem based on Risk-Seeking IGDT approach. International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023. Institute of Electrical and Electronics Engineers Inc., 2023. (International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023).

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title = "Economic Dispatch Problem based on Risk-Seeking IGDT approach",

abstract = "Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.",

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author = "Tinitana, \{Julio Cuenca\} and Carlos Correa-Florez and Diego Patino and Jos{\'e} Vuelvas and Leonel Aleaga and Jorge Carri{\'o}n",

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doi = "10.1109/ICECCME57830.2023.10252591",

language = "English",

series = "International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023",

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Tinitana, JC, Correa-Florez, C, Patino, D , Vuelvas, J, Aleaga, L & Carrión, J 2023, Economic Dispatch Problem based on Risk-Seeking IGDT approach. in International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023. International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023, Institute of Electrical and Electronics Engineers Inc., 2023 International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023, Tenerife, Canary Islands, Spain, 19/07/23. https://doi.org/10.1109/ICECCME57830.2023.10252591

Economic Dispatch Problem based on Risk-Seeking IGDT approach. / Tinitana, Julio Cuenca; Correa-Florez, Carlos; Patino, Diego et al.
International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023. Institute of Electrical and Electronics Engineers Inc., 2023. (International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Economic Dispatch Problem based on Risk-Seeking IGDT approach

AU - Tinitana, Julio Cuenca

AU - Correa-Florez, Carlos

AU - Patino, Diego

AU - Vuelvas, José

AU - Aleaga, Leonel

AU - Carrión, Jorge

PY - 2023

Y1 - 2023

N2 - Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.

AB - Integration of renewable generation is a present operational challenge for power systems. Essential grid operations, such as economic power dispatch (ED), are affected by the uncertainty of renewable sources. Therefore, this study proposes an economic dispatch model considering renewable generation uncertainty. The model considers the Information Gap Decision Theory (IGDT) framework to incorporate uncertainty into the ED formulation. For this purpose, a multiobjective risk-seeking IGDT model is developed, allowing the operator to assess uncertainty-associated risks. The IGDT model is subsequently validated using a modified IEEE 24-bus test system. It is observed that the IGDT proposal achieves operational savings and integrates renewable generation adequately. Finally, the numerical results indicate that the proposed IGDT framework can assist operators in making decisions based on achieving a target cost for a given level of uncertainty.

KW - economic dispatch

KW - renewable generation

KW - renewable integration

KW - risk-seeking

KW - uncertainty

UR - https://www.scopus.com/pages/publications/85174069173

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DO - 10.1109/ICECCME57830.2023.10252591

M3 - Conference contribution

AN - SCOPUS:85174069173

T3 - International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023

BT - International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 2023 International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023

Y2 - 19 July 2023 through 21 July 2023

ER -

Tinitana JC, Correa-Florez C, Patino D , Vuelvas J, Aleaga L, Carrión J. Economic Dispatch Problem based on Risk-Seeking IGDT approach. In International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023. Institute of Electrical and Electronics Engineers Inc. 2023. (International Conference on Electrical, Computer, Communications and Mechatronics Engineering, ICECCME 2023). doi: 10.1109/ICECCME57830.2023.10252591

Economic Dispatch Problem based on Risk-Seeking IGDT approach

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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