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An Application of Alpha-Stable Distributions for the Economic Analysis of Unit Commitment

An Application of Alpha-Stable Distributions for the Economic Analysis of Unit Commitment

Jose Antonio Marmolejo, Román Rodríguez
Copyright: © 2016 |Pages: 25
ISBN13: 9781466696440|ISBN10: 1466696443|EISBN13: 9781466696457
DOI: 10.4018/978-1-4666-9644-0.ch006
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MLA

Marmolejo, Jose Antonio, and Román Rodríguez. "An Application of Alpha-Stable Distributions for the Economic Analysis of Unit Commitment." Handbook of Research on Modern Optimization Algorithms and Applications in Engineering and Economics, edited by Pandian Vasant, et al., IGI Global, 2016, pp. 160-184. https://doi.org/10.4018/978-1-4666-9644-0.ch006

APA

Marmolejo, J. A. & Rodríguez, R. (2016). An Application of Alpha-Stable Distributions for the Economic Analysis of Unit Commitment. In P. Vasant, G. Weber, & V. Dieu (Eds.), Handbook of Research on Modern Optimization Algorithms and Applications in Engineering and Economics (pp. 160-184). IGI Global. https://doi.org/10.4018/978-1-4666-9644-0.ch006

Chicago

Marmolejo, Jose Antonio, and Román Rodríguez. "An Application of Alpha-Stable Distributions for the Economic Analysis of Unit Commitment." In Handbook of Research on Modern Optimization Algorithms and Applications in Engineering and Economics, edited by Pandian Vasant, Gerhard-Wilhelm Weber, and Vo Ngoc Dieu, 160-184. Hershey, PA: IGI Global, 2016. https://doi.org/10.4018/978-1-4666-9644-0.ch006

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Abstract

In power systems, we still lack the existence of standardized test systems that can be used to benchmark the performance and solution quality of proposed optimization techniques. It is therefore necessary to develop new methods for design of test cases for economic analysis in power systems. We compared two methods to generate test systems: time series and a method for simulating stable random variables that can be used to multiperiod unit commitment based on the use of Chambers-Mallows-Stuck. Hence, after comparing both methods, we describe the method for simulating stable random variables in the generation of test systems for economic analysis in power systems. A study focused on generating test electrical systems through fat tail model for unit commitment problem in electrical power systems is presented. Usually, the instances of test systems in Unit Commitment are generated using normal distribution, but in this work, simulations data are based on alpha-stable distribution. Numerical results illustrate the applicability of the proposed method.

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