A Recursive Approach to Calculating Derivatives of Production Cost and Reliability of Generation System

A recursive computational procedure derived from the cumulant method for efficiently calculating production cost and reliability derivatives is proposed. The procedure is applicable to the derivatives with respect to load, unit capacity, or forced outage rate. Moreover, the procedure can handle any number of cumulants without additional theoretical development or software implementation effort. The general accuracy of cumulant method extended for calculating derivatives is evaluated. In addition to the proposed computational procedure, three extended applications of production simulation derivatives are presented. >

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