From the 1 of 6 linked papers with an AI index.
6 papers
The Value of Perfect Endpoint Forecasts for Offshore-Wind Thermal Firming
Arash Khojaste, Geoffrey Pritchard, Golbon Zakeri
The paper evaluates how a perfect future demand forecast at a single future hour can reduce offshore‑wind thermal firming costs, using a cyclostationary MDP model with quantile Fou…
Risk-Averse Markov Decision Processes: Applications to Electricity Grid and Reservoir Management
Arash Khojaste, Jonathan Pearce, Daniela Pucci de Farias +2
This paper develops risk-averse models to support system operators in planning and operating the electricity grid under uncertainty from renewable power generation. We incorporate…
Baseline hydropower generation offer curves
Jonathan Pearce, Arash Khojaste, Golbon Zakeri +1
We outline a mathematical model for pricing hydropower generation. The model involves a Markov decision process that reflects the seasonal variation in historical time series of wa…
On monotone completion of risk markets: Limit results for incomplete risk markets
Iman Khajepour, Geoffrey Pritchard, Danny Ralph +1
We consider a competitive market with risk-averse participants. We assume that agents' risks are measured by coherent risk measures introduced by Artzner et al. (1999). Fundamental…
Quantile Fourier regressions for decision making under uncertainty
Arash Khojaste, Geoffrey Pritchard, Golbon Zakeri
Weconsider Markov decision processes arising from a Markov model of an underlying natural phenomenon. Such phenomena are usually periodic (e.g. annual) in time, and so the Markov p…
Real-time Building Energy Storage Scheduling under Electrical Load Uncertainty: A Dynamic Markov Decision Process Approach with Comprehensive Analysis of Different Pricing Policies
Hussein Sharadga, Ahmad Dawahdeh, Golbon Zakeri +2
In response to the increasing deployment of battery storage systems for cost reduction and grid stress mitigation, this study presents the development of a new real-time Markov dec…