Corpus ID: 235265850

Risk-Aware Dimensioning and Procurement of Contingency Reserve

@article{Mieth2021RiskAwareDA,
  title={Risk-Aware Dimensioning and Procurement of Contingency Reserve},
  author={Robert Mieth and Yury Dvorkin and Miguel A. Ortega-Vazquez},
  journal={ArXiv},
  year={2021},
  volume={abs/2106.00144}
}
Current contingency reserve criteria ignore the likelihood of individual contingencies and, thus, their impact on system reliability and risk. This paper develops an iterative approach, inspired by the current security-constrained unit commitment (SCUC) practice, enabling system operators to determine risk-cognizant contingency reserve requirements and their allocation with minimal alterations to the current SCUC practice. The proposed approach uses generator and transmission system reliability… Expand

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