A Cooperative Market-based Decision Guidance Approach for Resilient Power Systems

Alexander Brodsky, Eric Osterweil, Roberto Levy

2021

Abstract

National and local economies are strongly dependent on stable power systems. While the problem of power system resilience in the face of natural disasters and terrorist attacks has been extensively studied from the systems engineering perspective, a major unsolved problem remains in the need for preventive solutions against the collapse of power systems. These solutions must ensure the most economically efficient operation of power systems, within the bounds of any remaining power capacity. Transferring power usage rights from the lowest-loss to the highest-loss entities would result in significant reduction of the combined loss. The existing power systems do not take this fact into account. To address this need, we envision a paradigm shift toward three-step system for (1) a cooperation power market where power usage rights can be transferred among participating entities, (2) decision guidance to recommend market asks and bids to each entity, and (3) optimization that, given the market clearance, will recommend precise operational controls for each entity’s microgrid. The key challenge to address is the design of this three-step market system that will guarantee important properties including Pareto-optimality, individual rationality, and fairness, as well as privacy, security, pseudo-anonymity and non-repudiation.

Paper Citation

in Harvard Style

Brodsky A., Osterweil E. and Levy R. (2021). A Cooperative Market-based Decision Guidance Approach for Resilient Power Systems.In Proceedings of the 10th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES, ISBN 978-989-758-485-5, pages 256-263. DOI: 10.5220/0010309802560263

in Bibtex Style

@conference{icores21,
author={Alexander Brodsky and Eric Osterweil and Roberto Levy},
title={A Cooperative Market-based Decision Guidance Approach for Resilient Power Systems},
booktitle={Proceedings of the 10th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,},
year={2021},
pages={256-263},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010309802560263},
isbn={978-989-758-485-5},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 10th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,
TI - A Cooperative Market-based Decision Guidance Approach for Resilient Power Systems
SN - 978-989-758-485-5
AU - Brodsky A.
AU - Osterweil E.
AU - Levy R.
PY - 2021
SP - 256
EP - 263
DO - 10.5220/0010309802560263