Special Research Initiatives - Grant ID: SR0354895
Funder
Australian Research Council
Funding Amount
$40,000.00
Summary
Financial Integrity Research Network (FIRN). FIRN will be directed towards innovation in the integrity and efficiency of Australia's financial system. To address pressing problems and threats associated with this key component of Australia's infrastructure, FIRN will bring together a multi-disciplinary network featuring internationally renowned academics in a unique collaborative research effort which will cross conventional disciplinary boundaries including financial economics, applied statist ....Financial Integrity Research Network (FIRN). FIRN will be directed towards innovation in the integrity and efficiency of Australia's financial system. To address pressing problems and threats associated with this key component of Australia's infrastructure, FIRN will bring together a multi-disciplinary network featuring internationally renowned academics in a unique collaborative research effort which will cross conventional disciplinary boundaries including financial economics, applied statistics, actuarial science, financial mathematics, market micro-structure, accounting and information systems. FIRN will be supported by SIRCA's world-class financial research infrastructure and industry network. It will deliver a range of innovative research, educational, professional development and applied outcomes.Read moreRead less
A Roadmap for Greening Existing Australian Housing. The project will minimise the impact of the Greenhouse Pollution Reduction Scheme and anticipated rises in water costs on the householders. It will assist the consumers and the building industry in evaluating the environmental and economic costs and benefits of specific retrofitting actions for building envelope and major fixed appliances (thermal insulation, glazing, air infiltration, hot water, heating/cooling, lighting, low water flow and wa ....A Roadmap for Greening Existing Australian Housing. The project will minimise the impact of the Greenhouse Pollution Reduction Scheme and anticipated rises in water costs on the householders. It will assist the consumers and the building industry in evaluating the environmental and economic costs and benefits of specific retrofitting actions for building envelope and major fixed appliances (thermal insulation, glazing, air infiltration, hot water, heating/cooling, lighting, low water flow and water reuse appliances, and solar photovoltaic systems). In addition to assisting a burgeoning renovation industry, the project will enable accurate assessment of the impacts of the Green Loans Program and guide future national and local energy and water reduction policies. Read moreRead less
Multiscale Singularly Perturbed Control Systems. We propose to develop a unified averaging technique to analyse deterministic and stochastic multiscale singularly perturbed control systems. Such systems arise as mathematical models of real-world dynamical systems in which state variables can change their values with the rates of different orders of magnitude. The technique is based on the assumption that the system, which would describe the dynamics of the fast state variables if slow ones were ....Multiscale Singularly Perturbed Control Systems. We propose to develop a unified averaging technique to analyse deterministic and stochastic multiscale singularly perturbed control systems. Such systems arise as mathematical models of real-world dynamical systems in which state variables can change their values with the rates of different orders of magnitude. The technique is based on the assumption that the system, which would describe the dynamics of the fast state variables if slow ones were frozen, possesses certain ergodicity properties expressed in the existence of its limit occupational measures set. Conditions for the existence of such a set will be studied and its structure will be described.Read moreRead less
Performance analysis of the Unified Power Flow Controller based on multi-bridge converter. The objective of this research is to conceive a new configuration of UPFC without series injection transformers, based on two-level full-bridge modules. The conceived system can be utilized for the power systems to control the power flow through the transmission line.
The benefit is in reducing restrictions on electricity transfer links.
The project will develop a laboratory version of the novel UPFC de ....Performance analysis of the Unified Power Flow Controller based on multi-bridge converter. The objective of this research is to conceive a new configuration of UPFC without series injection transformers, based on two-level full-bridge modules. The conceived system can be utilized for the power systems to control the power flow through the transmission line.
The benefit is in reducing restrictions on electricity transfer links.
The project will develop a laboratory version of the novel UPFC demonstrating the hardware and control requirements for this form of UPFC which could reduce the costs of this corrective solution up to 30% below existing solutions.
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EMERGENCY CONTROL FOR POWER SYSTEM SEPARATION. In 2003 we saw major blackouts of power systems for US/Canada, Italy and London leading to billions of dollars of lost production and major impacts on many peoples lives. One aspect contributing to some of these is the control of system dynamic response and the targeted use of emergency controls such as load and generator shedding. This project is contributing to the development of an integrated control response such that appropriate levels of emerg ....EMERGENCY CONTROL FOR POWER SYSTEM SEPARATION. In 2003 we saw major blackouts of power systems for US/Canada, Italy and London leading to billions of dollars of lost production and major impacts on many peoples lives. One aspect contributing to some of these is the control of system dynamic response and the targeted use of emergency controls such as load and generator shedding. This project is contributing to the development of an integrated control response such that appropriate levels of emergency controls are determined and the probability of cascading blackouts reduced through automated systems. Read moreRead less
Advanced Planning Tools for the Prevention of System-wide Blackouts of Large Power Systems. In 2003 there had been major power blackouts in US/Canada, Italy and in Scandinavia leading to billions of dollars of lost production and had raised concern about national security. Prevention of blackout should be one of the highest priorities of the electricity industry. National security for any critical infrastructure of any country is more vulnerable for a prolonged blackout. This project will provid ....Advanced Planning Tools for the Prevention of System-wide Blackouts of Large Power Systems. In 2003 there had been major power blackouts in US/Canada, Italy and in Scandinavia leading to billions of dollars of lost production and had raised concern about national security. Prevention of blackout should be one of the highest priorities of the electricity industry. National security for any critical infrastructure of any country is more vulnerable for a prolonged blackout. This project will provide comprehensive planning tools to prevent blackouts in the Australian National Electricity grid. Any benefit to electricity industry will finally result in further benefits to the national economy and security as a whole.
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Investigation of Demand Diversity and Appropriate New Generation Entry into Electricity Market Simulation Tools. The power industry is currently facing a great challenge in providing
better market operation and management following recent devastating blackouts in North America, UK and Italy. This project aims at investigating major mechanisms of market simulation techniques including impacts from load diversity and approaches to defining appropriate new generation entry into the market. From th ....Investigation of Demand Diversity and Appropriate New Generation Entry into Electricity Market Simulation Tools. The power industry is currently facing a great challenge in providing
better market operation and management following recent devastating blackouts in North America, UK and Italy. This project aims at investigating major mechanisms of market simulation techniques including impacts from load diversity and approaches to defining appropriate new generation entry into the market. From the outcome of this project the National Electricity Market will be able to manage the uncertainties of load diversity (one of the most common blackout causes), and efficiently minimise risk associated with decisions on new generation entry to enhance electricity supply infrastructure.
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POWER DELIVERY IN A DEREGULATED ENVIRONMENT. The recent deregulation of the power industry has opened up new technical challenges that must be addressed in order to ensure fair and equitable market operation. Significant among these is the availability of alternative routes for the delivery of power, between and across different ownerships. In this scenario, a major challenge is to determine the minimum cost contractual arrangement for the delivery of required power. To achieve this, new techniq ....POWER DELIVERY IN A DEREGULATED ENVIRONMENT. The recent deregulation of the power industry has opened up new technical challenges that must be addressed in order to ensure fair and equitable market operation. Significant among these is the availability of alternative routes for the delivery of power, between and across different ownerships. In this scenario, a major challenge is to determine the minimum cost contractual arrangement for the delivery of required power. To achieve this, new techniques for the analysis of power systems are required. This proposal aims to provide solutions to these analysis problems and hence to provide software to assist with market operation.Read moreRead less
Managing the risk of price spikes, dependences and contagion effects in australian electricity markets. Australian electricity markets are more volatile and spike-prone than other comparable markets. Price spikes account for large parts of total price variation, and companies that are unprepared to manage these risks adequately face potentially substantial losses. The economic reality of price spikes in our interconnected electricity markets which are small and geographically isolated, unlike th ....Managing the risk of price spikes, dependences and contagion effects in australian electricity markets. Australian electricity markets are more volatile and spike-prone than other comparable markets. Price spikes account for large parts of total price variation, and companies that are unprepared to manage these risks adequately face potentially substantial losses. The economic reality of price spikes in our interconnected electricity markets which are small and geographically isolated, unlike the proximate markets of Europe and North America, emphasises the imperative of this Australian-focused research. Results will enable forecasting of extreme prices and enable market participants to manage better their risks, in Australia's unique electricity environment, and reduce chances of large losses or default.Read moreRead less
Power systems with diverse generation - implications, control and capability. This research will generate a systematic methodology to handle the impact of the renewable energy sources on the NSW power grid. It increases our understanding of the impact of climate change policies relating to mandatory targets for greenhouse gas reduction helping to build Australia’s research capacity in the national priority area of an environmentally sustainable Australia. The anticipated methodology can also be ....Power systems with diverse generation - implications, control and capability. This research will generate a systematic methodology to handle the impact of the renewable energy sources on the NSW power grid. It increases our understanding of the impact of climate change policies relating to mandatory targets for greenhouse gas reduction helping to build Australia’s research capacity in the national priority area of an environmentally sustainable Australia. The anticipated methodology can also be seen as protecting the security of power infrastructure as well. Maintaining a critical energy infrastructure protects our way of life and ensures ongoing social, economic and environmental well being of Australia.Read moreRead less