Investment optimization to improve power system resilience
2018 International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2018 - Proceedings
Power system utilities continue to strive for increased system resiliency. However, quantifying a baseline system resilience, and deciding the optimal investments to improve their resilience is challenging. This paper discusses a method to create scenarios, based on historical data, that represent the threats of severe weather events, their probability of occurrence, and the system wide consequences they generate. This paper also presents a mixed-integer stochastic nonlinear optimization model which uses the scenarios as an input to determine the optimal investments to reduce the system impacts from those scenarios. The optimization model utilizes a DC power flow to determine the loss of load during an event. Loss of load is the consequence that is minimized in this optimization model as the objective function. The results shown in this paper are from the IEEE RTS-96 three area reliability model. The scenario generation and optimization model have also been utilized on full utility models, but those results cannot be published.