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• W1566933022 abstract "For a deregulated electricity industry, we considera general electricity market structure with both long-termbilateral agreements and short-term spot market such that thesystem users can hedge the volatility of the real-time market. Froma Transmission Service Provider's point of view, optimaltransmission resource allocation between these two markets poses avery interesting decision making problem for a defined performancecriteria under uncertainties. In this thesis, the decision-makingis posed as a stochastic dynamic programming problem, and throughsimulations the strength of this method is demonstrated. Thisresource allocation problem is first posed as a centrallycoordinated dynamic programming problem, computed by one entity ata system- wide level. This problem is shown to be, under certainassumptions, solvable in a deterministic setup. However,implementation for a large transmission system requires thealgorithm to handle stochastic inputs and stochastic costfunctions. It is observed that the curse of dimensionality makesthis centralized optimization infeasible. Thesis offers certainremedies to the computational issues, but motivates a partiallydistributed setup and related optimization functions for a betterdecision making in large networks where the intelligent systemusers drive the use of network resources. Formulations areintroduced to reflect mathematical and policy constraints that arecrucial to distributed network operations in powersystems." @default.
• W1566933022 created "2016-06-24" @default.
• W1566933022 creator A5082187207 @default.
• W1566933022 date "2001-01-01" @default.
• W1566933022 modified "2023-09-27" @default.
• W1566933022 title "Decision tools for electricity transmission service and pricing : a dynamic programming approach" @default.
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• W1566933022 hasPublicationYear "2001" @default.
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