Stochastic modelling and analysis of spatio-temporal processes with fractal characteristics. Interest has grown in recent years on the derivation of fractal models to represent certain physical phenomena such as diffusion and transport in porous media, oceanic and atmospheric turbulence, climatology, etc. This project focuses on the phenomenon of diffusion on domains with multifractal geometry. Recent advances in harmonic analysis on fractals and our own development of fractional generalized ran ....Stochastic modelling and analysis of spatio-temporal processes with fractal characteristics. Interest has grown in recent years on the derivation of fractal models to represent certain physical phenomena such as diffusion and transport in porous media, oceanic and atmospheric turbulence, climatology, etc. This project focuses on the phenomenon of diffusion on domains with multifractal geometry. Recent advances in harmonic analysis on fractals and our own development of fractional generalized random fields allow us to formulate a comprehensive program to tackle some key problems including modeling, processing and statistical estimation of fractional diffusion. Advances made in this program will in turn benefit the developments in related scientific fields.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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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
Modelling Hidden Processes which Drive Economic and Financial Systems. The ability to forecast complex economic systems is crucial to benefit from peak performance, and to prepare for and safeguard against downturn. This project aims to make significant discoveries concerning hidden processes which drive such systems, using rigorous, cutting-edge, flexible econometric methods. Resulting outcomes will be improved understanding of - and ability to forecast - important economic phenomena such as vo ....Modelling Hidden Processes which Drive Economic and Financial Systems. The ability to forecast complex economic systems is crucial to benefit from peak performance, and to prepare for and safeguard against downturn. This project aims to make significant discoveries concerning hidden processes which drive such systems, using rigorous, cutting-edge, flexible econometric methods. Resulting outcomes will be improved understanding of - and ability to forecast - important economic phenomena such as volatility in price series, extremal (risky) behaviour of financial systems, and turning points of the business cycle. Discoveries will be disseminated through published papers and presentations at a major international conference. Ongoing e-research links with France will also be established.Read moreRead less
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
Financial Instability and Risk Management: New Statistical Treatment of the Occurrence and Persistence of Shocks in International Markets. Global economies are complex systems: their complexity is increasing due to market connectivity, borderless trading and rapid electronic transactions. This collaboration will improve understanding of market interdependence, important because of its profound macroeconomic influence on individual consumersf decisions and corporate investment. A novel combinati ....Financial Instability and Risk Management: New Statistical Treatment of the Occurrence and Persistence of Shocks in International Markets. Global economies are complex systems: their complexity is increasing due to market connectivity, borderless trading and rapid electronic transactions. This collaboration will improve understanding of market interdependence, important because of its profound macroeconomic influence on individual consumersf decisions and corporate investment. A novel combination of nonlinear time series and dynamical systems theories will be used to describe propagation and persistence of market shocks. Focusing on smart information use and innovation economies, this project will deliver publications on new practical econometric methodologies, training for early career researchers, and a strong sustainable research relationship between Australia and France.Read moreRead less