Towards a Risk-Driven Electricity Market Paradigm (slides)
* 21PESGM0091, A New Risk Assessment and Management Paradigm in Electricity Markets: P. ANDRIANESIS, Boston University * 21PESGM0096, A Grid that',s Risk-Aware for Clean Electricity: D. PATINO-ECHEVERRI, Duke University * 21PESGM2918, An Integrated Paradigm for the Management of Delivery Risk in Electricity Markets: From Batteries to Insurance and Beyond: E. SPYROU, NREL * 21PESGM2919, Grid Modernization and Electricity Market Challenges under High Wind Penetration: J. CASPARY, Grid Strategies
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Members: $5.00PES
IEEE Members: $10.00
Non-members: $20.00Pages/Slides: 119
26 Jul 2021
The panel will host several teams of a recent ARPA-E program that aims at designing operational paradigms built upon risk management and performance evaluation for the power grid. The panel will synthesize ideas and theories from finance, operations research, power system engineering, and electricity market design into methodologies constituting a risk-driven paradigm to achieve higher adoption of stochastic resources and more efficient and reliable system operation. It will also present and discuss recent developments of innovative energy and market management systems that represent the relative delivery risk of each asset and balance the collective risk of all assets across the grid.
Chairs:
Panagiotis Andrianesis, Boston University, Michael Caramanis, Boston University
Sponsor Committees:
(PSOPE) Power System Economics Subcommittee
