How Long to Read Risk Minimization in Power System Expansion and Power Pool Electricity Markets

How Long Does it Take to Read Risk Minimization in Power System Expansion and Power Pool Electricity Markets?

It takes the average reader 2 hours and 44 minutes to read Risk Minimization in Power System Expansion and Power Pool Electricity Markets by Juan Álvarez López

Assuming a reading speed of 250 words per minute. Learn more

Description

Centralized power system planning covers time windows that range from ten to thirty years. Consequently, it is the longest and most uncertain part of power system economics. One of the challenges that power system planning faces is the inability to accurately predict random events; these random events introduce risk in the planning process. Another challenge stems from the fact that, despite having a centralized planning scheme, generation plans are set first and then transmission expansion plans are carried out. This thesis addresses these problems. A joint model for generation and transmission expansion for the vertically integrated industry is proposed. Randomness is considered in demand, equivalent availability factors of the generators, and transmission capacity factors of the transmission lines. The system expansion model is formulated as a two-stage stochastic program with fixed recourse and probabilistic constraints. The transmission network is included via a DC approximation. The mean variance Markowitz theory is used as a risk minimization technique in order to minimize the variance of the annualized estimated generating cost. This system expansion model is capable of considering the locations of new generation and transmission and also of choosing the right mixture of generating technologies. The global tendency is to move from regulated power systems to deregulated power systems. Power pool electricity markets, assuming that the independent system operator is concerned with the social cost minimization, face great uncertainties from supply and demand bids submitted by market participants. In power pool electricity markets, randomness in the cost and benefit functions through random demand and supply functions has never been considered before. This thesis considers as random all the coefficients of the quadratic cost and benefit functions and uses the mean variance Markowitz theory to minimize the social cost variance. The impacts that this risk minimization technique has on nodal prices and on the elasticities of the supply and demand curves are studied. All the mathematical models in this thesis are exemplified by the six-node network proposed by Garver in 1970, by the 21-node network proposed by the IEEE Reliability Test System Task Force in 1979, and by the IEEE 57- and 118-node systems.

How long is Risk Minimization in Power System Expansion and Power Pool Electricity Markets?

Risk Minimization in Power System Expansion and Power Pool Electricity Markets by Juan Álvarez López is 159 pages long, and a total of 41,181 words.

This makes it 54% the length of the average book. It also has 50% more words than the average book.

How Long Does it Take to Read Risk Minimization in Power System Expansion and Power Pool Electricity Markets Aloud?

The average oral reading speed is 183 words per minute. This means it takes 3 hours and 45 minutes to read Risk Minimization in Power System Expansion and Power Pool Electricity Markets aloud.

What Reading Level is Risk Minimization in Power System Expansion and Power Pool Electricity Markets?

Risk Minimization in Power System Expansion and Power Pool Electricity Markets is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

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