18-21 August 2020
Virtual event


Moving to Risk-Based Power System and Market Operation 

Dr. Eugene Litvinov, ISO New England (USA)


Power Industry is facing revolutionary changes. The policy direction to a lower carbon footprint and, as a consequence, high penetration of Renewable Energy Resources and Smart Grid Technologies is completely transforming the planning and operation landscape for the electric grid. As more and more variable energy and demand response resources being integrated into the electric grid, the grid operation is experiencing increasing level of uncertainties. The decision making process under such environment becomes more challenging. The grid architecture and control also become more and more decentralized requiring new control paradigms and reliability metrics in order to achieve a much higher level of flexibility and resilience. 


Market and system operations under the current reliability criteria become increasingly expensive under much more volatile system conditions and during increasingly frequent extreme weather events, requiring different decision making approaches to the grid operation. In this presentation, we will discuss the needs and challenges of shifting to a risk-based operational approach with explicit consideration of system resilience.