Imperial College London
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Dr Spyros Giannelos

Faculty of Engineering, Department of Electrical and Electronic Engineering

Research Associate
 
 
 
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Contact

 

s.giannelos

 
 
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Location

 

Electrical EngineeringSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Giannelos:2018:10.1109/TPWRS.2018.2796076,
author = {Giannelos, S and Konstantelos, I and Strbac, G},
doi = {10.1109/TPWRS.2018.2796076},
journal = {IEEE Transactions on Power Systems},
pages = {5103--5113},
title = {Option value of demand-side response schemes under decision-dependent uncertainty},
url = {http://dx.doi.org/10.1109/TPWRS.2018.2796076},
volume = {33},
year = {2018}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Uncertainty in power system planning problems can be categorized into two types: exogenous and endogenous (or decision-dependent) uncertainty. In the latter case, uncertainty resolution depends on a choice (the value of some decision variables), as opposed to the former case in which the uncertainty resolves automatically with the passage of time. In this paper, a novel stochastic multistage planning model is proposed that considers endogenous uncertainty around consumer participation in demand-side response (DSR) schemes. This uncertainty can resolve following DSR deployment in two possible ways: locally (at a single bus) and globally (across the entire system). The original formulation is decomposed with the use of Benders decomposition to improve computational performance. Two versions of Benders decomposition are applied: the classic version involving sequential implementation of all operational subproblems and a novel version, specific to problems with endogenous uncertainty, which allows for the parallel execution of only those operational subproblems that are guaranteed to have a unique contribution to the solution. Case studies on 11-bus and 123-bus systems illustrate the process of endogenous uncertainty resolution and underline the strategic importance of deploying DSR ahead of time.
AU  - Giannelos,S
AU  - Konstantelos,I
AU  - Strbac,G
DO  - 10.1109/TPWRS.2018.2796076
EP  - 5113
PY  - 2018///
SN  - 0885-8950
SP  - 5103
TI  - Option value of demand-side response schemes under decision-dependent uncertainty
T2  - IEEE Transactions on Power Systems
UR  - http://dx.doi.org/10.1109/TPWRS.2018.2796076
UR  - http://hdl.handle.net/10044/1/56238
VL  - 33
ER  -
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