Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once t ....Novel econometric techniques for modelling and forecasting electricity prices and price volatility in Australia. Price volatility, particularly price spikes, are of special importance to electricity retailers who, because of retail price regulation, cannot pass them onto final customers and end up bearing the price risk. While state governments may enter into compensation deals with retailers, it is of great interest to both parties to understand why and when these price surges occur and, once they have occurred, how long they will last. A better understanding of the electricity price process will enable more sophisticated plans and strategies to be put in place to hedge against unfavourable, unexpected or extreme price events.Read moreRead less
Community Engagement for Localised Greenhouse Reduction: a local government demand-management model for business and household water, energy and waste reduction. New integrated community strategies are needed to deal with the imperative of reducing Australia's carbon footprint. With an explicit focus on enhancing community engagement for localised greenhouse reduction, this project will generate important analysis and policy prescriptions for demand reduction strategies. The development of endur ....Community Engagement for Localised Greenhouse Reduction: a local government demand-management model for business and household water, energy and waste reduction. New integrated community strategies are needed to deal with the imperative of reducing Australia's carbon footprint. With an explicit focus on enhancing community engagement for localised greenhouse reduction, this project will generate important analysis and policy prescriptions for demand reduction strategies. The development of enduring sustainable environment attitudinal and behavioural change is central to the National Strategy for Ecologically Sustainable Development, which sees a clear role for governments, business and individuals in progressing ecologically sustainable development. The results will contribute to developing new place-based integrated eco-sustainability models for implementation by local/state governments.Read moreRead less
Improved Capacitor Voltage Balance for Multicell Power Electronic Converters Controlled by Spectrally Optimal Modulation. There is a growing demand for high power and medium voltage energy conversion systems in a wide range of applications, including Rail, Renewable Energy, Defence and Electricity Distribution. Multicell-type multilevel converters are a very attractive means of satisfying this demand, but only if the cell voltages can be precisely regulated so as to ensure protection of the conv ....Improved Capacitor Voltage Balance for Multicell Power Electronic Converters Controlled by Spectrally Optimal Modulation. There is a growing demand for high power and medium voltage energy conversion systems in a wide range of applications, including Rail, Renewable Energy, Defence and Electricity Distribution. Multicell-type multilevel converters are a very attractive means of satisfying this demand, but only if the cell voltages can be precisely regulated so as to ensure protection of the converter while simultaneously ensuring the synthesis of switched waveforms with the required spectral quality. This project offers the potential to eliminate this barrier to the use of Multicell converter technology. In addition this project emphasises the development and training of people skilled in the design and development of this technology.Read moreRead less
Oxygen-18 in water, carbon dioxide, and organic matter: a tool for linking plant biological processes, hydrology and climate change. The globe is warming but pan evaporation is decreasing, because the world is dimming. We do not understand why. Stable, naturally occurring oxygen isotopes in plants (for example, tree rings) and in the carbon dioxide of the atmosphere vary and record climatic changes and physiological responses. Bringing these disparate areas of research together will help us to i ....Oxygen-18 in water, carbon dioxide, and organic matter: a tool for linking plant biological processes, hydrology and climate change. The globe is warming but pan evaporation is decreasing, because the world is dimming. We do not understand why. Stable, naturally occurring oxygen isotopes in plants (for example, tree rings) and in the carbon dioxide of the atmosphere vary and record climatic changes and physiological responses. Bringing these disparate areas of research together will help us to interpret the changes and responses. Such information is needed for planning future water requirements in Australia (agriculture, natural ecosystems, dams) and around the world. The isotopic composition of tree rings and of the atmospheric carbon dioxide is affected by that in water of leaves, and the processes linking them will be studied in detail. Read moreRead less
Capacity Enhancement, Energy-Loss Reduction and Voltage Control for Remote Three-Phase Distribution Feeders Supplying Electrical Power to Single-Wire Earth-Return Systems. Long distribution feeders supplying electrical energy to Single-Wire Earth-Return (SWER) systems are unique sub-systems of the electric power network in Australia. The SWER systems are inherently unbalanced and use conductors with high resistance values resulting in high energy losses. The capital costs of these systems are hi ....Capacity Enhancement, Energy-Loss Reduction and Voltage Control for Remote Three-Phase Distribution Feeders Supplying Electrical Power to Single-Wire Earth-Return Systems. Long distribution feeders supplying electrical energy to Single-Wire Earth-Return (SWER) systems are unique sub-systems of the electric power network in Australia. The SWER systems are inherently unbalanced and use conductors with high resistance values resulting in high energy losses. The capital costs of these systems are high due to the low area density of loads and the systems are challenged by increasing loads. New methods will be developed for load balancing, controlling losses and improving the power quality. Comparisons will be made between the new technologies and the reconstruction or augmentation of the feeders. It is expected that substantial economic and greenhouse emission benefits will result.Read moreRead less
Optimal Control of Modular Multilevel Power Electronic Converter Systems for Electrical Distribution Networks. This project will improve the national capability to use multilevel power electronic converter systems to help operate and maintain more efficient electrical distribution networks. The outcomes of the project will also contribute to the implementation into electrical distribution systems of renewable and distributed energy generation systems, and hence will help to reduce greenhouse ga ....Optimal Control of Modular Multilevel Power Electronic Converter Systems for Electrical Distribution Networks. This project will improve the national capability to use multilevel power electronic converter systems to help operate and maintain more efficient electrical distribution networks. The outcomes of the project will also contribute to the implementation into electrical distribution systems of renewable and distributed energy generation systems, and hence will help to reduce greenhouse gas emissions. In addition, it is anticipated that the control strategies to be investigated could lead to subsequent commercial developments with local industries. Finally, the project will foster and develop international links in power electronics between Monash University, and leading-edge international research groups in the area around the world.Read moreRead less
The modelling and estimation of volatility in energy markets. The growing trend of deregulation of energy markets poses important problems for users and suppliers of energy as well as for government policy makers. In particular it has become necessary to manage the risk of unexpected load and price fluctuations. One of the main challenges concerns the extreme volatility of prices and the evaluation of derivative prices and hedging ratios to take account of volatility. The outcomes of project wil ....The modelling and estimation of volatility in energy markets. The growing trend of deregulation of energy markets poses important problems for users and suppliers of energy as well as for government policy makers. In particular it has become necessary to manage the risk of unexpected load and price fluctuations. One of the main challenges concerns the extreme volatility of prices and the evaluation of derivative prices and hedging ratios to take account of volatility. The outcomes of project will be of benefit to all participants in Australian energy markets who need to use derivative positions to hedge energy risk. This issue has become important due to the increasing national focus on efficient use of energy resources.Read moreRead less
Assessing willingness to pay for urban water, wastewater, gas and electricity delivery service standards. The utility industry is a substantial component of the Australian economy (2.2 % of GDP), underpinning national production. Recent infrastructure failures, costing up to $200 million per week, have been blamed largely on regulatory approaches that emphasise minimum price and cost solutions to utility service provision without any assessment or consideration of the willingness to pay for serv ....Assessing willingness to pay for urban water, wastewater, gas and electricity delivery service standards. The utility industry is a substantial component of the Australian economy (2.2 % of GDP), underpinning national production. Recent infrastructure failures, costing up to $200 million per week, have been blamed largely on regulatory approaches that emphasise minimum price and cost solutions to utility service provision without any assessment or consideration of the willingness to pay for service quality and the value people place on surety of supply. Research on the role of WTP for service standards in regulating price and service quality is required to prevent future infrastructure failures. This research will provide substantial economic benefits to Australia through improved regulation and better targeting of infrastructure investment.Read moreRead less
Power system composite load modeling. Load modelling remains an open problem (and probably the most important unsolved problem) for the power industry world wide and is a priority for the research community in Australia. Without reliable load models it is impossible to perform accurate power system security assessment, which may lead to power system blackouts causing billions of dollars and hinder national security. This project aims at developing a composite load model and tackles all the up-to ....Power system composite load modeling. Load modelling remains an open problem (and probably the most important unsolved problem) for the power industry world wide and is a priority for the research community in Australia. Without reliable load models it is impossible to perform accurate power system security assessment, which may lead to power system blackouts causing billions of dollars and hinder national security. This project aims at developing a composite load model and tackles all the up-to-date most challenging problems using existing resources and expertise. It will provide one of the most valuable tools for the Australian power industry.Read moreRead less
Adaptive and Integrated Resource Allocation. By leveraging progress in communication technologies, adaptive and integrated optimization systems will open innovative application areas critical to Australia, yet outside the scope of existing optimization technology. For instance, they will dispatch and reallocate ambulances in real time, help contain pandemics, allocate resources dynamically to extinguish bushfires, and assist in failure recovery of energy infrastrutures. These systems will also s ....Adaptive and Integrated Resource Allocation. By leveraging progress in communication technologies, adaptive and integrated optimization systems will open innovative application areas critical to Australia, yet outside the scope of existing optimization technology. For instance, they will dispatch and reallocate ambulances in real time, help contain pandemics, allocate resources dynamically to extinguish bushfires, and assist in failure recovery of energy infrastrutures. These systems will also solve existing logistics and manufacturing applications better, making these industries more effective and reactive. The project also aims at establishing a center of excellence in optimization in Melbourne with an international reputation in research, teaching, and industrial collaboration.Read moreRead less