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SUMMARY:Assessing Potential Benefits of Increased Gas-Electric Coordinatio
 n by Stochastic Optimization - Sarah Ryan (Iowa State University )
DTSTART:20190319T100000Z
DTEND:20190319T104500Z
UID:TALK121261@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:Natural gas is the single largest fuel source for electricity 
 generation in the US. Its share of electric energy generated is expected t
 o increase through 2050 while the shares attributed to coal and renewable 
 sources approximately swap their values. However\, electric power generati
 on accounts for only about a third of gas consumption and this fraction is
  expected to remain nearly constant. Despite some recent regulatory change
 s\, the markets for gas and electricity are independent and not well coord
 inated. This lack of coordination combined with uncertainty associated wit
 h variable renewable generation creates risks for both the generators that
  procure gas by interruptible contracts and the system operators charged w
 ith maintaining both reliability and low wholesale electricity prices. We 
 formulate stochastic programming models for daily unit commitment and disp
 atch with uncertain wind generation to represent operation both within the
  current uncoordinated markets and under a hypothetical integration of the
  gas and electricity systems. Comparison of cost and reliability metrics a
 cross models allows an estimation of the potential benefits of increased c
 oordination between the two systems.Sarah RyanandDan Hu
LOCATION:Seminar Room 1\, Newton Institute
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