| EPSRC Reference: |
GR/K80310/01 |
| Title: |
A METHOD FOR COMPUTING THE VALUE OF SECURITY IN POWER SYSTEM OPERATIONS (ERCOS) |
| Principal Investigator: |
Kirschen, Professor D |
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| Department: |
Electrical Engineering & Electronics |
| Organisation: |
UMIST |
| Scheme: |
Standard Research (Pre-FEC) |
| Starts: |
19 August 1996 |
Ends: |
18 November 1999 |
Value (£): |
118,528
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| EPSRC Research Topic Classifications: |
| Energy Efficiency |
Power Sys Man, Prot & Control |
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| EPSRC Industrial Sector Classifications: |
| Energy |
No relevance to Underpinning Sectors |
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Summary on Grant Application Form |
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It has recently been suggested that network operators such as the National Grid Company should use a cost/benefit analysis to determine which measures should be taken to prevent unpredicatable and unavoidable faults and failures from causing customer outages. While the cost of these preventive security measures can be computed directly and deterministically from the payments made to the generators, their benefits are reflected in the avoided societal costs of load disconnections and a reduction in the cost of emegency measures such as the start-up of gas turbines. Since these benefits are related to the consequences of stochastic events they can only be evaluated using probabilistic techniques such as Monte Carlo simulation. While such techniques have been extensively applied in power system planning, they have not only been widely used in or considered for power system operation.In power system operation, the starting point of the analysis is known with much greater certainty but the accuracy and computational speed requirements are considerably higher. The main challenge of this project will therefore be to develop not only more detailed methods and models for esimating the cost of outages during the operational stage but also to implement highly effective variance reduction techniques.
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Key Findings |
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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Potential use in non-academic contexts |
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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Impacts |
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| Description |
This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk |
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Sectors submitted by the Researcher |
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This information can now be found on Gateway to Research (GtR) http://gtr.rcuk.ac.uk
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