Optimization of Stochastic Lossy Transport Networks and Applications to Power Grids | Zendy

Alessandro Zocca | Zendy; Bert Zwart | Zendy

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Optimization of Stochastic Lossy Transport Networks and Applications to Power Grids

Author(s) -

Alessandro Zocca,

Bert Zwart

Publication year - 2021

Publication title -

stochastic systems

Language(s) - English

Resource type - Journals

ISSN - 1946-5238

DOI - 10.1287/stsy.2019.0063

Subject(s) - stylized fact , lossy compression , computer science , flexibility (engineering) , affine transformation , renewable energy , mathematical optimization , mathematics , economics , engineering , electrical engineering , statistics , artificial intelligence , pure mathematics , macroeconomics

Motivated by developments in renewable energy and smart grids, we formulate a stylized mathematical model of a transport network with stochastic load fluctuations. Using an affine control rule, we explore the trade-off between the number of controllable resources in a lossy transport network and the performance gain they yield in terms of expected transportation losses. Our results are explicit and reveal the interaction between the level of flexibility, the intrinsic load uncertainty and the network structure.

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