TY - JOUR
T1 - Robust mid-term power generation management
AU - Guigues, V.
AU - Aid, R.
AU - Ndiaye, P. M.
AU - Oustry, F.
AU - Romanet, F.
PY - 2009/4
Y1 - 2009/4
N2 - We consider robust formulations of the mid-term optimal power management problem. For this type of problems, classical approaches minimize the expected generation cost over a horizon of 1 year, and model the uncertain future by means of scenario trees. In this setting, extreme scenarios-with low probability in the scenario tree-may fail to be well represented. More precisely, when extreme events occur strategies devised with the classical approach can result in significant financial losses. By contrast, robust techniques can handle well extreme cases. We consider two robust formulations that preserve the separable structure of the original problem, a fundamental issue when solving real-life problems. Numerical results assess the validity and practicality of the approaches.
AB - We consider robust formulations of the mid-term optimal power management problem. For this type of problems, classical approaches minimize the expected generation cost over a horizon of 1 year, and model the uncertain future by means of scenario trees. In this setting, extreme scenarios-with low probability in the scenario tree-may fail to be well represented. More precisely, when extreme events occur strategies devised with the classical approach can result in significant financial losses. By contrast, robust techniques can handle well extreme cases. We consider two robust formulations that preserve the separable structure of the original problem, a fundamental issue when solving real-life problems. Numerical results assess the validity and practicality of the approaches.
KW - Duality and space decomposition
KW - Electricity power management
KW - Robust counterpart
KW - Stochastic optimization
UR - http://www.scopus.com/inward/record.url?scp=70449394972&partnerID=8YFLogxK
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U2 - 10.1080/02331930902741788
DO - 10.1080/02331930902741788
M3 - Article
AN - SCOPUS:70449394972
SN - 0233-1934
VL - 58
SP - 351
EP - 371
JO - Optimization
JF - Optimization
IS - 3
ER -