Decision analysis tools for GENCO dispatchers

This paper outlines a decision analysis procedure to guide dispatchers in applying corporate policy for economic decisions when risk is involved. These techniques enable dispatchers to implement corporate policies without waiting for an answer from another group or groups within accepted guidelines....

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Bibliographic Details
Published in:IEEE transactions on power systems 1999-05, Vol.14 (2), p.745-750
Main Author: Sheble, G.B.
Format: Article
Language:English
Subjects:
Applied sciences
Business
Companies
Contracts
Costs
Decision analysis
Economic analysis
Electrical engineering. Electrical power engineering
Electrical power engineering
Equipment failure
Exact sciences and technology
Expert systems
Fuels
Guidelines
Operation. Load control. Reliability
Policies
Power generation economics
Power networks and lines
Production
Reserves
Risk analysis
Risk management
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Summary:This paper outlines a decision analysis procedure to guide dispatchers in applying corporate policy for economic decisions when risk is involved. These techniques enable dispatchers to implement corporate policies without waiting for an answer from another group or groups within accepted guidelines. The intent of the procedure is to reduce the guidelines to expert system rules, which may be applied without extensive analysis. Such a set of tools is often used in other industries by administrative staff instead of engineering staff. Tools such as the one reported here are needed for the new business environment for profit opportunities to be achieved while maintaining security. The tool described within this paper was designed for a mid-western generation company to handle reserve or contingent contract requests.
ISSN:0885-8950
1558-0679
DOI:10.1109/59.761907