Title: Electricity Market and Power System Control: A Parametric Approach
Speaker: Chenye Wu, Postdoctoral Researcher, University of California Berkeley
Abstract: The high penetration of renewable energies contributes to a sustainable energy future. However, it also brings huge uncertainties, which challenge the reliable operation of power systems. In this talk, I will share my experience on rigorously studying the power systems and electricity markets under uncertainties from their parametric descriptions. Many of the analyses seem counter-intuitive in light of commonly held beliefs. For example, is deregulated electricity market necessarily competitive? Unfortunately, the California electricity crisis has shown the deregulation not very successful. To avoid such crisis, we propose a parametric functional approach to assessing market power in the electricity market. Our measure unified three large classes of long-term market power indices in the literature. Then, I would like to share my recent work on risk-limiting energy dispatch, where we surprisingly found that parametric analysis can also help the power system control.
Speaker Bio: Chenye Wu is a post doctoral researcher at UC Berkeley. Prior to joining UC Berkeley, he spent one year at CMU as a post doctoral researcher. His research focuses on the power system reliable operation and electricity market design under uncertainties, with an emphasis on utilizing the pervasive intelligent resources. Dr. Wu holds a BS in electronic engineering and a PhD in computer science both from Tsinghua University. He was the best paper co-recipient of IEEE SmartGridComm 2012 and IEEE PES General Meeting 2013.