Xue, Y, Huang, J, Jiang, C et al. (3 more authors) (2016) Sensitivity study of key factors influencing emission market based on hybrid simulations. In: Proceedings of the 2016 IEEE International Conference on Smart Grid Communications (SmartGridComm). 2016 IEEE International Conference on Smart Grid Communications (SmartGridComm), 06-09 Nov 2016, Sydney, Australia. IEEE ISBN 978-1-5090-4075-9
Abstract
As an effective measure for regulating the greenhouse gas emissions, Emission Trading Scheme (ETS) has been widely implemented. Market designers and participants are in urgent need of decision-support tools with quantitative risk analysis capability. However, one of the biggest challenges lies in that the physical laws, economic laws and human behaviors are intertwined in the emission risk prevention and control problem. While the physical laws and economic laws can be modeled mathematically, human behaviors cannot be easily modeled. In this paper, a hybrid simulation method is adopted for the sensitivity analysis of different factors influencing emission market. First, the interactions between the power system and the climate system are examined and the hybrid simulation method is introduced. Second, based on the hybrid simulation, sensitivity analysis of key influencing factors on emission price is conducted. Finally, based on the practices of a power system blackout defense system that has been developed by the authors, an emission risk prevention and control framework is proposed.
Metadata
Item Type: | Proceedings Paper |
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Authors/Creators: |
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Keywords: | Power system; emission trading; hybrid simulation; experimental economics; sensitivity analysis; risk management |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Engineering & Physical Sciences (Leeds) > School of Electronic & Electrical Engineering (Leeds) > Institute of Communication & Power Networks (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 05 Nov 2019 16:27 |
Last Modified: | 05 Nov 2019 16:27 |
Status: | Published |
Publisher: | IEEE |
Identification Number: | 10.1109/smartgridcomm.2016.7778761 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:153023 |