A Control-variable Regression Monte Carlo Technique for Short-term Electricity Generation Planning
(2015) In Optimization and Control (math.OC)- Abstract
- In the day-to-day operation of a power system, the system operator repeatedly solves short-term generation planning problems. When formulating these problems the operators have to weigh the risk of costly failures against increased production costs. The resulting problems are often high-dimensional and various approximations have been suggested in the literature.
In this article we formulate the short-term planning problem as an optimal switching problem with delayed reaction. Furthermore, we proposed a control variable technique that can be used in Monte Carlo regression to obtain a computationally efficient numerical algorithm.
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/8518045
- author
- Perninge, Magnus LU
- organization
- publishing date
- 2015
- type
- Working paper/Preprint
- publication status
- published
- subject
- in
- Optimization and Control (math.OC)
- issue
- arXiv:1512.08880v1
- publisher
- arXiv.org
- project
- Stochastic Control Approach to Optimal Power System Operation
- language
- English
- LU publication?
- yes
- id
- 460c1e66-7438-4bee-808d-7c8e889eb3a6 (old id 8518045)
- alternative location
- https://arxiv.org/abs/1512.08880
- date added to LUP
- 2016-04-04 13:19:01
- date last changed
- 2018-11-21 21:29:45
@misc{460c1e66-7438-4bee-808d-7c8e889eb3a6, abstract = {{In the day-to-day operation of a power system, the system operator repeatedly solves short-term generation planning problems. When formulating these problems the operators have to weigh the risk of costly failures against increased production costs. The resulting problems are often high-dimensional and various approximations have been suggested in the literature.<br/><br> <br/><br> In this article we formulate the short-term planning problem as an optimal switching problem with delayed reaction. Furthermore, we proposed a control variable technique that can be used in Monte Carlo regression to obtain a computationally efficient numerical algorithm.}}, author = {{Perninge, Magnus}}, language = {{eng}}, note = {{Working Paper}}, number = {{arXiv:1512.08880v1}}, publisher = {{arXiv.org}}, series = {{Optimization and Control (math.OC)}}, title = {{A Control-variable Regression Monte Carlo Technique for Short-term Electricity Generation Planning}}, url = {{https://arxiv.org/abs/1512.08880}}, year = {{2015}}, }