Journal article

Identifying Optimal Portfolios of Resilient Network Investments against Natural Hazards, with Applications to Earthquakes

T Lagos, R Moreno, AN Espinosa, M Panteli, R Sacaan, F Ordonez, H Rudnick, P Mancarella

IEEE Transactions on Power Systems | IEEE | Published : 2020

Abstract

Although extreme natural disasters have occurred all over the world throughout history, power systems planners do not usually recognize them within network investment methodologies. Moreover, planners had historically focused on reliability approaches based on average (rather than risk) performance indicators, undermining the effects of high impact and low probability events on investment decisions. To move towards a resilience centred approach, we propose a practical framework that can be used to identify network investments that offer the highest level of hedge against risks caused by natural hazards. In a first level, our framework proposes network enhancements and, in a second level, use..

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Grants

Awarded by EPSRC UK


Awarded by Conicyt Chile


Awarded by TERSE: Techno-Economic framework for Resilient and Sustainable Electrification


Awarded by Complex Engineering Systems Institute


Awarded by Powered@NLHPC supercomputing infrastructure



Funding Acknowledgements

The work was supported in part by EPSRC UK and Conicyt Chile, through the projects Disaster Management and Resilience in Electric Power Systems (EP/N034899/1 and Newton-Picarte/MR/N026721/1); in part by TERSE: Techno-Economic framework for Resilient and Sustainable Electrification (EP/R030294/1); in part by Grants Fondecyt/1181928, Fondecyt/1181136, and SERC Fondap/15110019; in part by the Complex Engineering Systems Institute (CONICYT PIA/BASAL AFB180003); in part by the Powered@NLHPC supercomputing infrastructure (ECM-02); and in part by the Newton Fund for awarding an international Newton Prize. Paper no. TPWRS-00350-2019.