A multi-objective optimization approach for coordinating available transfer capability with risk control

Huang, Yuchun, Wen, Fushuan, Ledwich, Gerard, Xue, Yusheng, & Lei, Jinyoung (2012) A multi-objective optimization approach for coordinating available transfer capability with risk control. In Proceedings of 10th International Power and Energy Conference (IPEC 2012), IEEE, Ho Chi Minh City, Vietnam, pp. 391-396.

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Abstract

In the electricity market environment, coordination of system reliability and economics of a power system is of great significance in determining the available transfer capability (ATC). In addition, the risks associated with uncertainties should be properly addressed in the ATC determination process for risk-benefit maximization. Against this background, it is necessary that the ATC be optimally allocated and utilized within relative security constraints. First of all, the non-sequential Monte Carlo stimulation is employed to derive the probability density distribution of ATC of designated areas incorporating uncertainty factors. Second, on the basis of that, a multi-objective optimization model is formulated to determine the multi-area ATC so as to maximize the risk-benefits. Then, the solution to the developed model is achieved by the fast non-dominated sorting (NSGA-II) algorithm, which could decrease the risk caused by uncertainties while coordinating the ATCs of different areas. Finally, the IEEE 118-bus test system is served for demonstrating the essential features of the developed model and employed algorithm.

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ID Code: 61920
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: Available transfer capability (ATC), Risk-benefit, Multi-objective, Fast nondominated sorting (NSGA-II)
DOI: 10.1109/ASSCC.2012.6523299
ISBN: 9781467345842
Divisions: Current > Schools > School of Electrical Engineering & Computer Science
Current > QUT Faculties and Divisions > Science & Engineering Faculty
Copyright Owner: Copyright 2012 IEEE
Deposited On: 20 Aug 2013 00:17
Last Modified: 21 Aug 2013 22:08

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