Seminar: Optimization, equilibria, energy and risk
Speaker: Michael C. Ferris, University of Wisconsin-Madison
Joint work with Andy Philpott, University of Auckland
Time: 2:45-4:30pm, Wednesday 21 March, 2018
Location: RH 105, Level 1 Rutherford House, 23 Lambton Quay, Wellington.
Video: Screening of Powering New Zealand Episode 1: The Powerboard of Fame, with Stephen Batstone and David Reeve.
Time: 5:00-6:00pm, with networking nibbles/drinks
Location: RH MZ 03, Rutherford House, Mezzanine Floor
Feel free to come to one or both events. Please RSVP for seating/catering purposes to: email@example.com.
This event is being hosted by the School of Management at Victoria University and is supported by ORSNZ through its Energy and Natural Resources Special Interest Group (ENR SIG) and industry sponsors. (You can sign up to receive news about other ENR events here.)
Optimization, equilibria, energy and risk
Power grids across the world have become dependent on markets that aim to efficiently match supply with demand at all times via a variety of pricing and auction mechanisms, using models that capture interactions between producers, transmission and consumers. A dynamic equilibrium aims to determine prices and dispatches that can be transmitted over the electricity grid to satisfy evolving consumer requirements for energy at different locations and times. Computation allows large scale practical implementations of socially optimal models to be solved as part of the market operation, and regulations can be imposed that aim to ensure competitive behaviour of market participants.
Questions discussed in this presentation include the impacts of wind, solar and hydro, and battery storage; how to guarantee operation when failures occur; how do we guarantee appropriate participant behaviour; and how do we ensure enough transmission (and generator) capacity in the long term, and how do we recover the costs of this enhanced infrastructure?
Additional details about the seminar are available here.
Powering New Zealand Episode 1: The Powerboard of Fame
Stephen Batstone and David Reeve have worked together in the arcane end of the electricity industry for many years, but recently became inspired by the stories of the individuals who made our amazing electricity system the way it is today. They have released the first episode of their documentary series “Powering New Zealand”, which chronicles the start of electricity in New Zealand, and the world-leading feats achieved by a small group of determined individuals in the South Island. Stephen and David will show this 23-minute episode, interspersed with their stories of what drove them to undertake this project, what happened during filming, and what’s coming up in future episodes.
The video session will run 5-5:45 pm in RH MZ 03 on the Mezzanine floor of Rutherford House. Drinks/nibbles will be available during the session.
If you have any enquiries please email: firstname.lastname@example.org