Quantifying Risk of Wind Power Ramps in ERCOT

Jie Zhao, Sajjad Abedi, Miao He, Pengwei Du, Sandip Sharma, Bill Blevins

Research output: Contribution to journalArticle

8 Scopus citations

Abstract

Hourly wind power ramps in ERCOT are studied by applying extreme value theory. Mean excess plot reveals that the tail behavior of large hourly wind power ramps indeed follows a generalized Pareto distribution. The location, shape, and scale parameters of generalized Pareto distribution are then determined by using mean excess plot and the least square technique, from which risk measures including α quantile value at risk and conditional value at risk are calculated.

Original languageEnglish
Article number7872512
Pages (from-to)4970-4971
Number of pages2
JournalIEEE Transactions on Power Systems
Volume32
Issue number6
DOIs
StatePublished - Nov 2017

Keywords

  • ERCOT
  • extreme value theory
  • generalized Pareto distribution
  • risk assessment
  • wind power ramp

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    Zhao, J., Abedi, S., He, M., Du, P., Sharma, S., & Blevins, B. (2017). Quantifying Risk of Wind Power Ramps in ERCOT. IEEE Transactions on Power Systems, 32(6), 4970-4971. [7872512]. https://doi.org/10.1109/TPWRS.2017.2678761