Wednesday, May 11, 2016 - 11:15am - 12:00pm
Victor Zavala (University of Wisconsin, Madison)
Energy networks are becoming increasingly decentralized and exhibit new forms of coupling. For instance, during the polar vortex of 2014, sustained low temperatures in the Midwest region of the U.S. resulted in unusually high gas demands from buildings in urban areas. This led to shortages of natural gas that propagated to California, Massachusetts, and Texas. The gas shortages forced power plant shutdowns totaling 35 GW. At a value of lost load of 5,000 USD/MWh, such shortages represent economic losses of 175 million USD per hour.
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