Risk-Based Decision Support Model for the Optimal Operation of a Smart Energy Distribution Company for Enabling Emerging Resources

S. M. B. Sadati, J. Moshtagh, Miadreza Shafie-khah, Joao Catalao
2019 Proceedings of the 52nd Hawaii International Conference on System Sciences   unpublished
In this paper, a risk-based decision support model is developed for a smart energy distribution company, enabling emerging resources like renewable energy sources, electric vehicles and demand response programs in a holistic approach. Because of the inherent uncertainties of these emerging resources, the conditional value-at-risk (CVaR) method is adopted to restrict the distribution company's risk. A risk aversion parameter sensitivity analysis is also provided on the optimal operation of the
more » ... art energy distribution company. The proposed model is thoroughly tested on a 15-bus distribution grid system, and the numerical results prove the effectiveness of the model in risk management.
doi:10.24251/hicss.2019.147 fatcat:2uwckylfordvvldwivhtjcmbsm