Risk-Aware Market Clearing for Power Systems (RAMC)

CREATING THE NEXT

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Data science is the idea of using computation to transform data into information, knowledge, insights, and decisions. Data scientists are changing the world every day, and we want to help develop the next generation.
—Pascal Van Hentenryck

The increasing role of renewable energy sources is challenging grid operations, which have traditionally relied on highly predictable load and generation. Future grid operations must balance generation costs and systemlevel risk, shifting from deterministic to stochastic optimization and risk management. The Risk-Aware Market Clearing (RAMC) project will provide a blueprint for an end-to-end, data-driven approach where risk is explicitly modeled, quantified, and optimized, striking a tradeoff between cost and system-level risk minimization. The RAMC project focuses on challenges arising from increased stochasticity in generation, load, flow interchanges with adjacent markets, and extreme weather. RAMC addresses these challenges through innovations in machine learning, sampling, and optimization. Starting with the risk quantification of each individual asset obtained from historical data, RAMC learns the correlations between the performance and risk of individual assets, optimizes the selection of asset bundles, and quantifies the system-level risk.

FOUNDATIONS OF RAMC

That'll be a challenge! A half a hair and some air. We can stir this up a little bit. Let's have some fun today. I like the mountains -- they're my favorite. OK, let's have some fun! I look for easy ways to do things. You'll be amazed at what you can do if you'll just try. - Bob Ross

 

Pascal Van Hentenryck

Pascal Van Hentenryck is the Associate Chair for Innovation and Entrepreneurship and an A. Russell Chandler III Chair and Professor in the H. Milton Stewart School of Industrial and Systems Engineering at Georgia Tech. He has taught undergraduate and graduate classes in computer science, operations research, and computational biology at Brown University, National Interactive College of Technology Australia, University of Michigan, and Georgia Tech. In addition, he leads the Seth Bonder Camp in Computational and Data Science for high school students each summer.

Van Hentenryck's research focuses in artificial intelligence, data science, and operations research. His current focus is to develop methodologies, algorithms, and systems for addressing challenging problems in mobility, energy systems, resilience, and privacy. He is also leading the Socially Aware Mobility project to foster an equitable and accessible transit system in Atlanta.


Murray is ...