Constrained and Stable Solutions of Nonlinear and Semismooth Equations. In this project, comprehensive models for designing safe power system parameters will be proposed, efficient algorthms for solving these models will be constructed. The new models and algorithms in this project will provide efficient tools to prevent catastrophic events in power systems, which is related with national security. This project will also strengthen collaboration of Australian applied
mathematians with inter ....Constrained and Stable Solutions of Nonlinear and Semismooth Equations. In this project, comprehensive models for designing safe power system parameters will be proposed, efficient algorthms for solving these models will be constructed. The new models and algorithms in this project will provide efficient tools to prevent catastrophic events in power systems, which is related with national security. This project will also strengthen collaboration of Australian applied
mathematians with international researchers and engineering scientists. This is important for the advance of science and technology in
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Models for Australian Electricity Derivatives. Electricity derivatives, such as electricity futures and options are used to manage the risk associated with volatility in prices of electricity. This project aims to develop models for pricing electricity derivatives specifically suited for Australia. Because of the non-storable nature of electricity the standard option pricing principle of "no-arbitrage" does not apply to electricity options, such as caps and floors, but applies to options on elec ....Models for Australian Electricity Derivatives. Electricity derivatives, such as electricity futures and options are used to manage the risk associated with volatility in prices of electricity. This project aims to develop models for pricing electricity derivatives specifically suited for Australia. Because of the non-storable nature of electricity the standard option pricing principle of "no-arbitrage" does not apply to electricity options, such as caps and floors, but applies to options on electricity futures. Therefore a specific model is needed that takes into account the pricing principle of "no-arbitrage" and combines it with other factors that drive electricity prices. The novel element in this proposal is incorporation of the weather forecasts into the models for electricity options. As a result of this study appropriate models for electricity derivatives for various geographical regions in Australia will be developed.Read moreRead less
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
ARC Financial Integrity Research Network. The integrity of the financial system is constantly under stress because of the development of ever more complex financial instruments, structures and strategies, and the associated research technologies that continues to accelerate worldwide. FIRN's vision is to harness the considerable strengths of Australia's internationally renowned finance, accounting and economics researchers into a research agenda to address issues concerning the integrity of the ....ARC Financial Integrity Research Network. The integrity of the financial system is constantly under stress because of the development of ever more complex financial instruments, structures and strategies, and the associated research technologies that continues to accelerate worldwide. FIRN's vision is to harness the considerable strengths of Australia's internationally renowned finance, accounting and economics researchers into a research agenda to address issues concerning the integrity of the financial system. It will enable Australian research in this area to match the scale and impact of similar research in other major international financial centres, and play an essential role in placing Australia among the world's leaders in financial markets related research.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
Electricity Distribution in the Bush: Operation, Control and Energy Management of Grid Connected Distributed Generation Based Microgrids. Increasing the access of electricity by conventional means to remote areas requires a substantial increase in generating and transmission capacities over what is presently available. These will require large capital expenditure and will increase the levels of emissions of carbon dioxide and various nitrous oxides. As an alternative distributed generation (DG) ....Electricity Distribution in the Bush: Operation, Control and Energy Management of Grid Connected Distributed Generation Based Microgrids. Increasing the access of electricity by conventional means to remote areas requires a substantial increase in generating and transmission capacities over what is presently available. These will require large capital expenditure and will increase the levels of emissions of carbon dioxide and various nitrous oxides. As an alternative distributed generation (DG) using renewable energy resources and alternative fuels can be used to mitigate environmental impacts and cost. This project will contribute to the knowledge of operating a microgrid based on various DG energy sources that will be environmentally friendly and renewable. Community and economic benefits will flow from increased diversity of supply and reduced environmental impacts.Read moreRead less