Data-driven Power System Operation: Exploring the Balance between Cost and Risk

Supervised machine learning has been successfully used in the past to infer a system's security boundary by training classifiers (also referred to as security rules) on a large number of simulated operating conditions. Although significant research has been carried out on using classifiers for the detection of critical operating points, using classifiers for the subsequent identification of suitable preventive/corrective control actions remains underdeveloped. This paper focuses on addressing the challenges that arise when utilizing security rules for control purposes. Illustrative examples and case studies are used to show how even very accurate security rules can lead to prohibitively high risk exposure when used to identify optimal control actions. Subsequently, the inherent tradeoff between operating cost and security risk is explored in detail. To optimally navigate this tradeoff, a novel approach is proposed that uses an ensemble learning method (AdaBoost) to infer a probabilistic description of a system's security boundary. Bias in predictions is compensated by the Platt Calibration method. Subsequently, a general-purpose framework for building probabilistic and disjunctive security rules of a system's secure operating domain is developed that can be embedded within classic operation formulations. Through case studies on the IEEE 39-bus system, it is showcased how security rules derived from supervised learning can be efficiently utilized to optimally operate the system under multiple uncertainties while respecting a user-defined balance between cost and risk. This is a fundamental step toward embedding data-driven models within classic optimisation approaches.