A seminar by Gopal Basak

Title: Energy Management, Uncertainty and Optimisation

Speaker: Gopal Basak, ISI Kolkata

Time and Date: Friday, May 5, 11:30 am.

Venue: Room 011 (Teaching Lab), IEOR Building

 Abstract:

  It is a big advantage in having a national grid for electricity  distribution, but   this also brings us with huge amount of problems of managing such a vast  country. We have seen its massive failure in 2012 in northern grid. Can such  things happen again? How can we measure the risk of such events, How  can we measure the uncertainty of the distribution? Locally, globally?  Since  private players are in electricty generation and since it is a public  good what  should the right price be, more and more this becomes a concern.   Especially so when the electricity is also being produced from renewable sources. Are there any exchange in India where we can buy and sell electricity as a trade-able goods. Pricing in this exchange will be a big issue as the production cost of electricity differs from the material its used, also  whether from renewable or from non-renewables? Should the producers be allowed to  store so that they can manipulate the price of electricity? Further, if we wish to pose this as a problem of optimisation, then it should  be realised that such problems would yield different solutions depending  whether we are looking from customers' perspective, or producers' or  governments'. This talk will try to discuss these issues and highlight the problems at  hand.
 

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