These slides report on the loop flows in the PJM/MISO footprint
It reports that loop flows are not benign, i.e. they pose a challenge to electric power reliability and higher balancing costs are incurred even when the threat to reliability is small.
AVEVA ProCon FPSO Europe Congress 2016AVEVA ProCon
Rock, Paper, Scissors
A Case Study on complementing cost-savings with strong governance and capital discipline
A recent survey* of 9 FPSO projects identified a combined 38% cost overrun totaling $2.5bn in wasted capital. One of the identified causal factors behind this dead-weight additional capital was “a lack of clarity regarding contract responsibilities”.
8over8 presented a case study where efficiency gains were generated in the world’s first FLNG project by implementing a proven system of strong governance and commercial discipline. The result was connected decision making and reduced incidence of conflict and claims amongst stakeholders in the world’s first FLNG project.
*Source: Douglas Westwood“ FPSO Industry at a Crossroads”- An Industry Whitepaper
To request a free audit visit http://info.8over8.com/contact-us/capital-savings-review/
For more information, visit http://www.8over8.com/procon-overview/
Clearing A Path Through The Regulatory MazeIan Philips
This document discusses the rise of RegTech solutions to help financial institutions manage increasingly complex regulatory requirements more efficiently. Following the 2008 financial crisis, regulators imposed significant new rules and compliance costs on the industry. RegTech applies new technologies like data analytics and automation to facilitate regulatory reporting and monitoring of business processes. The UK Financial Conduct Authority has been supportive of RegTech and sees its potential to reduce costs for both firms and regulators. RegTech solutions work by mapping key business flows, identifying important compliance checkpoints, and providing real-time dashboards and audit trails to demonstrate meeting regulatory obligations. Alpha Insight provides one such RegTech approach that has been applied across different areas of financial services like payments and trading.
The document discusses the growing pressure on companies to improve their close-to-disclose financial reporting process. It notes that CFOs are targeting this process for improvement to reduce errors, speed reporting, increase transparency, and handle new disclosure requirements. The document provides statistics showing that companies with faster quarterly and annual close cycles spend less per $1,000 in revenue on financial reporting. It also discusses challenges companies face in gathering data from multiple systems and entities. Areas that companies are working to improve include reducing close cycle times, increasing automation, identifying error root causes, and better aligning internal and external reporting data. A holistic approach is needed that addresses people, processes, and systems.
This document discusses challenges with meeting BCBS 239 principles for effective risk data aggregation and reporting. It recommends that financial institutions create a centralized risk data infrastructure to improve data quality and regulatory compliance. A sound infrastructure includes a single data warehouse, common data model, and analytics capabilities. It also discusses how Teradata solutions provide functionality to help banks meet BCBS 239 requirements through comprehensive risk data aggregation, a single version of truth across systems, and tools for analysis and reporting.
This document discusses key financial regulations and trends, and how technology can help financial institutions comply with regulatory reporting requirements. It outlines several major regulations including FATCA, Dodd Frank Act, Basel III, FINRA, AML, KYC, and MiFID. For each regulation, it provides high-level details on requirements and highlights. It also discusses challenges of regulatory compliance and how technology can help with tasks like data management, analytics, reporting automation and process consolidation to improve regulatory reporting.
This document provides an overview and agenda for the TP Minds Americas 2016 conference workshops and main summit on transfer pricing. The pre-conference workshops on February 22nd will address topics like new transfer pricing documentation requirements from BEPS Action 13, country-by-country reporting, and assessing current transfer pricing approaches. The main summit on February 23rd will feature discussions on global transfer pricing policy developments with an OECD and policy maker panel, perspectives from tax administrations, and industry sessions on managing risk, documentation requirements, and successfully handling complex audits.
AVEVA ProCon FPSO Europe Congress 2016AVEVA ProCon
Rock, Paper, Scissors
A Case Study on complementing cost-savings with strong governance and capital discipline
A recent survey* of 9 FPSO projects identified a combined 38% cost overrun totaling $2.5bn in wasted capital. One of the identified causal factors behind this dead-weight additional capital was “a lack of clarity regarding contract responsibilities”.
8over8 presented a case study where efficiency gains were generated in the world’s first FLNG project by implementing a proven system of strong governance and commercial discipline. The result was connected decision making and reduced incidence of conflict and claims amongst stakeholders in the world’s first FLNG project.
*Source: Douglas Westwood“ FPSO Industry at a Crossroads”- An Industry Whitepaper
To request a free audit visit http://info.8over8.com/contact-us/capital-savings-review/
For more information, visit http://www.8over8.com/procon-overview/
Clearing A Path Through The Regulatory MazeIan Philips
This document discusses the rise of RegTech solutions to help financial institutions manage increasingly complex regulatory requirements more efficiently. Following the 2008 financial crisis, regulators imposed significant new rules and compliance costs on the industry. RegTech applies new technologies like data analytics and automation to facilitate regulatory reporting and monitoring of business processes. The UK Financial Conduct Authority has been supportive of RegTech and sees its potential to reduce costs for both firms and regulators. RegTech solutions work by mapping key business flows, identifying important compliance checkpoints, and providing real-time dashboards and audit trails to demonstrate meeting regulatory obligations. Alpha Insight provides one such RegTech approach that has been applied across different areas of financial services like payments and trading.
The document discusses the growing pressure on companies to improve their close-to-disclose financial reporting process. It notes that CFOs are targeting this process for improvement to reduce errors, speed reporting, increase transparency, and handle new disclosure requirements. The document provides statistics showing that companies with faster quarterly and annual close cycles spend less per $1,000 in revenue on financial reporting. It also discusses challenges companies face in gathering data from multiple systems and entities. Areas that companies are working to improve include reducing close cycle times, increasing automation, identifying error root causes, and better aligning internal and external reporting data. A holistic approach is needed that addresses people, processes, and systems.
This document discusses challenges with meeting BCBS 239 principles for effective risk data aggregation and reporting. It recommends that financial institutions create a centralized risk data infrastructure to improve data quality and regulatory compliance. A sound infrastructure includes a single data warehouse, common data model, and analytics capabilities. It also discusses how Teradata solutions provide functionality to help banks meet BCBS 239 requirements through comprehensive risk data aggregation, a single version of truth across systems, and tools for analysis and reporting.
This document discusses key financial regulations and trends, and how technology can help financial institutions comply with regulatory reporting requirements. It outlines several major regulations including FATCA, Dodd Frank Act, Basel III, FINRA, AML, KYC, and MiFID. For each regulation, it provides high-level details on requirements and highlights. It also discusses challenges of regulatory compliance and how technology can help with tasks like data management, analytics, reporting automation and process consolidation to improve regulatory reporting.
This document provides an overview and agenda for the TP Minds Americas 2016 conference workshops and main summit on transfer pricing. The pre-conference workshops on February 22nd will address topics like new transfer pricing documentation requirements from BEPS Action 13, country-by-country reporting, and assessing current transfer pricing approaches. The main summit on February 23rd will feature discussions on global transfer pricing policy developments with an OECD and policy maker panel, perspectives from tax administrations, and industry sessions on managing risk, documentation requirements, and successfully handling complex audits.
NASA is required to regularly report cost and schedule performance data to Congress, the Office of Management and Budget (OMB), and the Government Accountability Office (GAO) for its major projects. The types of reports include baseline reports, current estimate reports, threshold reports if growth exceeds certain levels, and rebaseline reports if costs grow by 30% or more. NASA manages this reporting by linking it to agency policies and using a single standardized data tracking system to provide consistent information across all reports on project-managed costs, unfunded enhancements held by program offices, and other agency-managed costs.
E chain optimization at st. microelectronicsshwetabakshi
STMicroelectronics formed a joint venture with its major trading partner to implement an electronic collaboration project called eChO using RosettaNet standards to streamline its supply chain management. Through eChO's vendor managed inventory model and automated planning and information sharing processes, STMicroelectronics reduced inventory levels, cut planning cycle time in half, and increased responsiveness, capacity utilization, and profitability. However, implementing the new system required substantial resources initially.
The Insurance Reporting Challenge: Building an Integrated FrameworkAccenture Insurance
The reporting component of Solvency II has become a major concern for insurance companies operating in Europe. Solvency II Pillar III increases reporting requirements in terms of volume, frequency, timeliness and complexity. These, in turn, have a direct bearing on insurers’ data, processes, methodologies and organization. The pressure put on insurers to enhance their reporting calls for a revamped closing and reporting framework where integration is part of the approach. Beyond the new Solvency II requirements, reporting, in our view, remains a pressing issue at the global level.
Business Continuity Strategy Benchmarking April 8th, 2009Mauro Giorgi
The scope of the document is to provide our customer with some high level benchmarking information and leading practice about Business Continuity Management.
•The report provides a comparison about the Business Continuity Strategy Stage and it has the purpose to provide a brief overview on current practices, to leverage past experiences in future engagements
Overview of Variable Renewable Energy Regulatory IssuesLeonardo ENERGY
Highlights:
* Focuses on key regulatory issues associated with the deployment of VRE sources, especially wind and solar power.
* Charts progression of regulatory issues across early, intermediate, and advanced stages of VRE penetration.
* Common thread of progression is interdependency between facilitating new VRE generation, ensuring adequate grid infrastructure, and ensuring short- and long-term security of supply.
* Key to VRE deployment is integration of all significant changes to a power system.
* VRE integration is a complex issue, involving various actors, assets, and feedback loops.
The CPM (Critical Path Method) model is a deterministic approach used for project planning and scheduling. It involves identifying all tasks, determining their duration and sequence, and analyzing which path has no float or slack time between tasks. This critical path determines the minimum time needed to complete the project. The CPM makes assumptions that the critical path will not change, activity times are independent and known, and the project completion time is normally distributed. The key steps of CPM include specifying activities, establishing sequences, building a network diagram, estimating activity times, identifying the critical path, and updating the critical path diagram. The overall goal of CPM is to complete the project in the shortest time possible through techniques like fast tracking and crashing the critical
The CPM (Critical Path Method) model is a deterministic approach used for comparatively risk-free projects that involves developing a network diagram and identifying the critical path. There are four main assumptions of CPM: 1) the critical path does not change, 2) project completion time is normally distributed, 3) activity times are statistically independent, and 4) activity times are deterministic. The key steps of CPM include activity specification, establishing activity sequence, developing a network diagram, estimating activity times, identifying the critical path, and updating the critical path diagram. The major objective of CPM is to complete the project in the shortest time possible through techniques like fast tracking and crashing the critical path.
- SCE forecasts $19.3 billion in capital expenditures from 2017-2020, driven by grid modernization, reliability, and supporting California's clean energy goals. This forecast does not include potential future investments in transportation electrification.
- SCE's historical capital expenditures have grown its rate base at a compound annual growth rate of 7% from 2011-2016. However, the CPUC has approved less than full requests in past rate cases.
- SCE's regulatory model includes decoupling, balancing accounts, and forward-looking ratemaking to stabilize revenues and promote cost recovery for prudent investments. However, grid modernization spending faces uncertainty due to lack of past approval experience.
The document summarizes a regional roundtable meeting held by InfoComm on July 21, 2011 in Vancouver. It discusses metrics for the AV industry and related sectors, including projections of 9% annual growth in the AV market through 2012. Breakouts were presented on project management, financial dashboards, and industry influences related to customers, ecosystems, sustainability, and the growing connection between AV and IT networks. Roundtable discussions focused on opportunities for InfoComm to support members and advance the industry in 2012.
The document discusses measuring and evaluating the performance and productivity of ports. It examines various factors that make analyzing port performance challenging, such as the large number of parameters involved, lack of reliable data, and local factors influencing results. The document focuses on defining common methodologies for measuring performance, specifically analyzing the duration of ships' stays in ports and the quality of cargo handling. It explores various key performance indicators used to evaluate efficiency related to issues like quay productivity, crane utilization, and ship turnaround times. The conclusion emphasizes the importance of developing a culture of performance measurement in ports using agreed-upon indicators to understand system performance and support decision-making.
Replacement of legacy cis with sap cr&b at phirobgirvan
The document summarizes Pepco Holdings Inc.'s decision to replace its legacy customer information systems with SAP CR&B. It describes PHI's analysis process over multiple phases from 2010-2011 which engaged stakeholders and considered traditional costs/benefits as well as flexibility for a changing industry. The analysis indicated SAP CR&B could provide substantial benefits over the aging legacy systems and PHI proceeded with plans to replace the systems with a new SAP-based solution.
OSIsoft White Paper "Impacting the Bottom Line" in O>jeerd Zwijnenberg
In a new era of heightened oil-price volatility, data and technology are crucial in helping operators cut costs and maximise value; 10 real-world examples of oil and gas innovators using data for economic effect
This document discusses transparency arrangements for tracking progress toward achieving the goal of mobilizing $100 billion in annual climate finance. It notes that the Enhanced Transparency Framework (ETF) is seen as a key data source but has limitations. Effective transparency arrangements will need to make best use of the ETF while also utilizing complementary sources to track different layers of funding from various public and private sources over time. Challenges around data gaps, inconsistencies, attribution of finance, and accountability will need addressed through agreed reporting and aggregation processes.
This document provides an overview of the key phases in mining operations:
1) Exploration - Searching for mineral resources through studies, drilling and sampling.
2) Evaluation - Determining technical and commercial viability through feasibility studies and establishing reserves.
3) Development - Establishing access and infrastructure like shafts, roads and processing facilities to extract reserves commercially.
4) Production - Day-to-day mining and processing operations to produce a saleable product from reserves on a commercial scale.
5) Closure - Site restoration and rehabilitation after mining ceases.
It notes the accounting implications of properly distinguishing between exploration, evaluation and development phases, which is important for capitalization decisions. A bankable
TGI reported its 1Q 2015 results and key developments:
1. TGI received credit rating upgrades from Fitch and maintained its ratings from other agencies.
2. EEB completed the acquisition of TGI's remaining stake, merging it fully into the group.
3. TGI is transitioning its financial reporting to IFRS standards by 2015.
4. The regulator CREG is expected to approve a new tariff methodology in 2015-2016, with new rates taking effect 2017-2018.
The document discusses Task XIII of the International Energy Agency's Demand Side Management Programme, which aims to integrate demand response resources (DRR) into electricity markets. It provides an overview of Task XIII's objectives:
1) Identify existing DRR potential in participating countries.
2) Assess how DRR can contribute to electricity sector goals given market structures.
3) Mobilize resources to complete the project.
Task XIII will work with country experts to analyze DRR potential and value, identify barriers, and develop recommendations. It will establish best practices and tools to estimate DRR. The project delivers analyses, reports, and recommendations to integrate DRR and maximize its benefits across
- SCE forecasts $18.6 billion in capital expenditures from 2017-2020, including $1.8 billion for grid modernization during the 2018 GRC period.
- SCE's historical rate base grew at a compounded annual rate of 7% from 2011-2016 and core earnings grew at 5% annually over the same period.
- Key drivers of future growth include ongoing infrastructure investment, grid modernization to integrate renewables, and expanding electric transportation.
Rijsberman srf action plan 2 nov 2012 punta del esteCGIAR
The document outlines an action plan to update the Strategy and Results Framework of the CGIAR by prioritizing research at both the system and CRP levels to define intermediate development outcomes, establish a performance management system linked to resource allocation, strengthen partnerships, and periodically update the framework through foresight analysis and stakeholder engagement.
The document discusses the establishment of Energinet.dk, a new Danish state-owned company formed on January 1, 2005 through the merger of Eltra, Elkraft, and Gastra. Energinet.dk will be responsible for operating both the natural gas and electricity transmission grids in Denmark. It was established to separate transmission and system operations from production and trading to promote competition in the energy markets while ensuring security of energy supply.
NASA is required to regularly report cost and schedule performance data to Congress, the Office of Management and Budget (OMB), and the Government Accountability Office (GAO) for its major projects. The types of reports include baseline reports, current estimate reports, threshold reports if growth exceeds certain levels, and rebaseline reports if costs grow by 30% or more. NASA manages this reporting by linking it to agency policies and using a single standardized data tracking system to provide consistent information across all reports on project-managed costs, unfunded enhancements held by program offices, and other agency-managed costs.
E chain optimization at st. microelectronicsshwetabakshi
STMicroelectronics formed a joint venture with its major trading partner to implement an electronic collaboration project called eChO using RosettaNet standards to streamline its supply chain management. Through eChO's vendor managed inventory model and automated planning and information sharing processes, STMicroelectronics reduced inventory levels, cut planning cycle time in half, and increased responsiveness, capacity utilization, and profitability. However, implementing the new system required substantial resources initially.
The Insurance Reporting Challenge: Building an Integrated FrameworkAccenture Insurance
The reporting component of Solvency II has become a major concern for insurance companies operating in Europe. Solvency II Pillar III increases reporting requirements in terms of volume, frequency, timeliness and complexity. These, in turn, have a direct bearing on insurers’ data, processes, methodologies and organization. The pressure put on insurers to enhance their reporting calls for a revamped closing and reporting framework where integration is part of the approach. Beyond the new Solvency II requirements, reporting, in our view, remains a pressing issue at the global level.
Business Continuity Strategy Benchmarking April 8th, 2009Mauro Giorgi
The scope of the document is to provide our customer with some high level benchmarking information and leading practice about Business Continuity Management.
•The report provides a comparison about the Business Continuity Strategy Stage and it has the purpose to provide a brief overview on current practices, to leverage past experiences in future engagements
Overview of Variable Renewable Energy Regulatory IssuesLeonardo ENERGY
Highlights:
* Focuses on key regulatory issues associated with the deployment of VRE sources, especially wind and solar power.
* Charts progression of regulatory issues across early, intermediate, and advanced stages of VRE penetration.
* Common thread of progression is interdependency between facilitating new VRE generation, ensuring adequate grid infrastructure, and ensuring short- and long-term security of supply.
* Key to VRE deployment is integration of all significant changes to a power system.
* VRE integration is a complex issue, involving various actors, assets, and feedback loops.
The CPM (Critical Path Method) model is a deterministic approach used for project planning and scheduling. It involves identifying all tasks, determining their duration and sequence, and analyzing which path has no float or slack time between tasks. This critical path determines the minimum time needed to complete the project. The CPM makes assumptions that the critical path will not change, activity times are independent and known, and the project completion time is normally distributed. The key steps of CPM include specifying activities, establishing sequences, building a network diagram, estimating activity times, identifying the critical path, and updating the critical path diagram. The overall goal of CPM is to complete the project in the shortest time possible through techniques like fast tracking and crashing the critical
The CPM (Critical Path Method) model is a deterministic approach used for comparatively risk-free projects that involves developing a network diagram and identifying the critical path. There are four main assumptions of CPM: 1) the critical path does not change, 2) project completion time is normally distributed, 3) activity times are statistically independent, and 4) activity times are deterministic. The key steps of CPM include activity specification, establishing activity sequence, developing a network diagram, estimating activity times, identifying the critical path, and updating the critical path diagram. The major objective of CPM is to complete the project in the shortest time possible through techniques like fast tracking and crashing the critical path.
- SCE forecasts $19.3 billion in capital expenditures from 2017-2020, driven by grid modernization, reliability, and supporting California's clean energy goals. This forecast does not include potential future investments in transportation electrification.
- SCE's historical capital expenditures have grown its rate base at a compound annual growth rate of 7% from 2011-2016. However, the CPUC has approved less than full requests in past rate cases.
- SCE's regulatory model includes decoupling, balancing accounts, and forward-looking ratemaking to stabilize revenues and promote cost recovery for prudent investments. However, grid modernization spending faces uncertainty due to lack of past approval experience.
The document summarizes a regional roundtable meeting held by InfoComm on July 21, 2011 in Vancouver. It discusses metrics for the AV industry and related sectors, including projections of 9% annual growth in the AV market through 2012. Breakouts were presented on project management, financial dashboards, and industry influences related to customers, ecosystems, sustainability, and the growing connection between AV and IT networks. Roundtable discussions focused on opportunities for InfoComm to support members and advance the industry in 2012.
The document discusses measuring and evaluating the performance and productivity of ports. It examines various factors that make analyzing port performance challenging, such as the large number of parameters involved, lack of reliable data, and local factors influencing results. The document focuses on defining common methodologies for measuring performance, specifically analyzing the duration of ships' stays in ports and the quality of cargo handling. It explores various key performance indicators used to evaluate efficiency related to issues like quay productivity, crane utilization, and ship turnaround times. The conclusion emphasizes the importance of developing a culture of performance measurement in ports using agreed-upon indicators to understand system performance and support decision-making.
Replacement of legacy cis with sap cr&b at phirobgirvan
The document summarizes Pepco Holdings Inc.'s decision to replace its legacy customer information systems with SAP CR&B. It describes PHI's analysis process over multiple phases from 2010-2011 which engaged stakeholders and considered traditional costs/benefits as well as flexibility for a changing industry. The analysis indicated SAP CR&B could provide substantial benefits over the aging legacy systems and PHI proceeded with plans to replace the systems with a new SAP-based solution.
OSIsoft White Paper "Impacting the Bottom Line" in O>jeerd Zwijnenberg
In a new era of heightened oil-price volatility, data and technology are crucial in helping operators cut costs and maximise value; 10 real-world examples of oil and gas innovators using data for economic effect
This document discusses transparency arrangements for tracking progress toward achieving the goal of mobilizing $100 billion in annual climate finance. It notes that the Enhanced Transparency Framework (ETF) is seen as a key data source but has limitations. Effective transparency arrangements will need to make best use of the ETF while also utilizing complementary sources to track different layers of funding from various public and private sources over time. Challenges around data gaps, inconsistencies, attribution of finance, and accountability will need addressed through agreed reporting and aggregation processes.
This document provides an overview of the key phases in mining operations:
1) Exploration - Searching for mineral resources through studies, drilling and sampling.
2) Evaluation - Determining technical and commercial viability through feasibility studies and establishing reserves.
3) Development - Establishing access and infrastructure like shafts, roads and processing facilities to extract reserves commercially.
4) Production - Day-to-day mining and processing operations to produce a saleable product from reserves on a commercial scale.
5) Closure - Site restoration and rehabilitation after mining ceases.
It notes the accounting implications of properly distinguishing between exploration, evaluation and development phases, which is important for capitalization decisions. A bankable
TGI reported its 1Q 2015 results and key developments:
1. TGI received credit rating upgrades from Fitch and maintained its ratings from other agencies.
2. EEB completed the acquisition of TGI's remaining stake, merging it fully into the group.
3. TGI is transitioning its financial reporting to IFRS standards by 2015.
4. The regulator CREG is expected to approve a new tariff methodology in 2015-2016, with new rates taking effect 2017-2018.
The document discusses Task XIII of the International Energy Agency's Demand Side Management Programme, which aims to integrate demand response resources (DRR) into electricity markets. It provides an overview of Task XIII's objectives:
1) Identify existing DRR potential in participating countries.
2) Assess how DRR can contribute to electricity sector goals given market structures.
3) Mobilize resources to complete the project.
Task XIII will work with country experts to analyze DRR potential and value, identify barriers, and develop recommendations. It will establish best practices and tools to estimate DRR. The project delivers analyses, reports, and recommendations to integrate DRR and maximize its benefits across
- SCE forecasts $18.6 billion in capital expenditures from 2017-2020, including $1.8 billion for grid modernization during the 2018 GRC period.
- SCE's historical rate base grew at a compounded annual rate of 7% from 2011-2016 and core earnings grew at 5% annually over the same period.
- Key drivers of future growth include ongoing infrastructure investment, grid modernization to integrate renewables, and expanding electric transportation.
Rijsberman srf action plan 2 nov 2012 punta del esteCGIAR
The document outlines an action plan to update the Strategy and Results Framework of the CGIAR by prioritizing research at both the system and CRP levels to define intermediate development outcomes, establish a performance management system linked to resource allocation, strengthen partnerships, and periodically update the framework through foresight analysis and stakeholder engagement.
Similar to 20071005 jcm-loop-flow-study-phase-02 (20)
The document discusses the establishment of Energinet.dk, a new Danish state-owned company formed on January 1, 2005 through the merger of Eltra, Elkraft, and Gastra. Energinet.dk will be responsible for operating both the natural gas and electricity transmission grids in Denmark. It was established to separate transmission and system operations from production and trading to promote competition in the energy markets while ensuring security of energy supply.
This is a presentation on Load and Wind Energy Forecasting The paper was presented at a 2016 conference sponsored by the Swedish Association for Energy Economics (SAEE).
There is one error in the slides. The RMSE of the wind energy forecasts for Sweden correspond to the same day, not day-ahead forecasts.
This document summarizes research on wind energy forecasting in Great Britain. It finds that:
1) Wind energy generation has much larger imbalances compared to scheduled generation than conventional sources like coal and gas.
2) Errors in day-ahead wind forecasts are related to forecasted wind levels and weather conditions and contain systematic patterns over time rather than being random.
3) A time-series model using weather and wind forecasts can produce much more accurate very short-term (30 min ahead) wind forecasts compared to day-ahead forecasts, helping grid operators manage intermittent wind power.
Forbes usaee lecture lehigh university nov 5 2015Kevin Forbes
A growing literature has affirmed with great confidence the feasibility of high penetration levels of wind and solar energy in electric generation under existing technology. This optimism is based in part on the belief that improved forecasting has effectively “solved” the challenge of intermittency. For example, the UK’s Royal Academy of Engineering has recently noted that wind energy’s capacity weighted forecast error of about five percent is evidence that the wind energy forecasts in Great Britain are highly accurate.
This paper assesses this claim using data from Great Britain, 50Hertz in Germany, Amprion in Germany, the California ISO, the Bonneville Power Administration, the Midcontinent ISO, France, Western Demark, Eastern Denmark, and Belgium. The analysis proceeds by comparing the forecast accuracy of load, wind, and solar energy with the accuracy of the corresponding persistence forecasts for load, wind, and solar energy. The analysis indicates that while the load forecasts are generally more accurate than a persistence load forecast, the wind and solar energy forecasts are generally less accurate than the corresponding persistence forecasts for wind and solar energy. Specifically, with a persistence forecast as reference, the mean-square-error-skill-score (MSESS) of the load forecasts are generally positive while the MSESS of the wind or solar energy forecast are generally negative.
Evidence is also presented that the forecast errors have a systematic component. Modelling of this systematic component can yield short-run solar and wind energy forecasts that are significantly more accurate. This does not resolve the challenge of intermittency but may mitigate matters.
Forbes co2 and temperature presentation for earth day at cua april 22 2015 ...Kevin Forbes
Extended Abstract
Introduction
While the vast majority of climate scientists have concluded that the changes in the climate over the past few decades can be attributed to human activity [Doran and Zimmerman, 2009], there has been a degree of reluctance to attribute specific weather events to elevated CO2 concentrations. For example, Coumou and Rahmstorf [2012] have noted that there has been an exceptionally high incidence of extreme weather events over the past decade and that some of the events can be linked to climate change but nevertheless concede that particular events “cannot be directly attributed to global warming.” Moreover, the World Meteorological Organization has noted that the incidence of extreme weather events matches IPCC projections, but qualifies this conclusion by stating that “it is impossible to say that an individual weather or climate event was “caused” by climate change….” [World Meteorological Organization, 2011, p 15]. This claim of “attribution impossibility” is not a minor shortcoming; it leaves the causes of extreme events open to question, allowing climate skeptics to attribute the increased incidence of extreme events to so-called “natural variability.” In the United States, this has undermined the political consensus necessary to adopt robust, cost-effective policies to reduce CO2 emissions.
This paper explores the relationship between CO2 and weather by addressing whether there is a causal relationship between the atmospheric concentration level of carbon dioxide and hourly temperature. The analysis begins by noting that traditional correlation analysis is not capable of addressing whether there is a causal relationship between CO2 and temperature because statistical methods alone cannot render results that establish or reject causality between two variables that are contemporaneously correlated. Nevertheless, it is possible to address the issue of causality by using more advanced statistical techniques.
An Approach to Establishing Causality
This paper addresses the issue of causality between CO2 and temperature by following the research of the Nobel Laureate Clive Granger [1969], who defined causality in terms of whether lagged values of a variable lead to more accurate predictions of some other variable. In his words, “The definition of causality …is based entirely on the predictability of the some series, say Xt. If some other series Yt, contains information in past terms that helps in the prediction of Xt … then Yt is said to cause Xt.” [Granger, 1969, p 430]. This study embraces this view of causality by examining whether lagged values of CO2 lead to more accurate forecasts of temperature. The specific approach adopted here is to exploit the diurnal nature of the variation in the hourly CO2 concentration levels by using the CO2 concentration level in hour t – 24 as an explanatory variable. This variable has a 0.96 correlation with the CO2 level in hour t but i
DEEP LEARNING FOR SMART GRID INTRUSION DETECTION: A HYBRID CNN-LSTM-BASED MODELgerogepatton
As digital technology becomes more deeply embedded in power systems, protecting the communication
networks of Smart Grids (SG) has emerged as a critical concern. Distributed Network Protocol 3 (DNP3)
represents a multi-tiered application layer protocol extensively utilized in Supervisory Control and Data
Acquisition (SCADA)-based smart grids to facilitate real-time data gathering and control functionalities.
Robust Intrusion Detection Systems (IDS) are necessary for early threat detection and mitigation because
of the interconnection of these networks, which makes them vulnerable to a variety of cyberattacks. To
solve this issue, this paper develops a hybrid Deep Learning (DL) model specifically designed for intrusion
detection in smart grids. The proposed approach is a combination of the Convolutional Neural Network
(CNN) and the Long-Short-Term Memory algorithms (LSTM). We employed a recent intrusion detection
dataset (DNP3), which focuses on unauthorized commands and Denial of Service (DoS) cyberattacks, to
train and test our model. The results of our experiments show that our CNN-LSTM method is much better
at finding smart grid intrusions than other deep learning algorithms used for classification. In addition,
our proposed approach improves accuracy, precision, recall, and F1 score, achieving a high detection
accuracy rate of 99.50%.
CHINA’S GEO-ECONOMIC OUTREACH IN CENTRAL ASIAN COUNTRIES AND FUTURE PROSPECTjpsjournal1
The rivalry between prominent international actors for dominance over Central Asia's hydrocarbon
reserves and the ancient silk trade route, along with China's diplomatic endeavours in the area, has been
referred to as the "New Great Game." This research centres on the power struggle, considering
geopolitical, geostrategic, and geoeconomic variables. Topics including trade, political hegemony, oil
politics, and conventional and nontraditional security are all explored and explained by the researcher.
Using Mackinder's Heartland, Spykman Rimland, and Hegemonic Stability theories, examines China's role
in Central Asia. This study adheres to the empirical epistemological method and has taken care of
objectivity. This study analyze primary and secondary research documents critically to elaborate role of
china’s geo economic outreach in central Asian countries and its future prospect. China is thriving in trade,
pipeline politics, and winning states, according to this study, thanks to important instruments like the
Shanghai Cooperation Organisation and the Belt and Road Economic Initiative. According to this study,
China is seeing significant success in commerce, pipeline politics, and gaining influence on other
governments. This success may be attributed to the effective utilisation of key tools such as the Shanghai
Cooperation Organisation and the Belt and Road Economic Initiative.
Batteries -Introduction – Types of Batteries – discharging and charging of battery - characteristics of battery –battery rating- various tests on battery- – Primary battery: silver button cell- Secondary battery :Ni-Cd battery-modern battery: lithium ion battery-maintenance of batteries-choices of batteries for electric vehicle applications.
Fuel Cells: Introduction- importance and classification of fuel cells - description, principle, components, applications of fuel cells: H2-O2 fuel cell, alkaline fuel cell, molten carbonate fuel cell and direct methanol fuel cells.
ACEP Magazine edition 4th launched on 05.06.2024Rahul
This document provides information about the third edition of the magazine "Sthapatya" published by the Association of Civil Engineers (Practicing) Aurangabad. It includes messages from current and past presidents of ACEP, memories and photos from past ACEP events, information on life time achievement awards given by ACEP, and a technical article on concrete maintenance, repairs and strengthening. The document highlights activities of ACEP and provides a technical educational article for members.
Embedded machine learning-based road conditions and driving behavior monitoringIJECEIAES
Car accident rates have increased in recent years, resulting in losses in human lives, properties, and other financial costs. An embedded machine learning-based system is developed to address this critical issue. The system can monitor road conditions, detect driving patterns, and identify aggressive driving behaviors. The system is based on neural networks trained on a comprehensive dataset of driving events, driving styles, and road conditions. The system effectively detects potential risks and helps mitigate the frequency and impact of accidents. The primary goal is to ensure the safety of drivers and vehicles. Collecting data involved gathering information on three key road events: normal street and normal drive, speed bumps, circular yellow speed bumps, and three aggressive driving actions: sudden start, sudden stop, and sudden entry. The gathered data is processed and analyzed using a machine learning system designed for limited power and memory devices. The developed system resulted in 91.9% accuracy, 93.6% precision, and 92% recall. The achieved inference time on an Arduino Nano 33 BLE Sense with a 32-bit CPU running at 64 MHz is 34 ms and requires 2.6 kB peak RAM and 139.9 kB program flash memory, making it suitable for resource-constrained embedded systems.
Literature Review Basics and Understanding Reference Management.pptxDr Ramhari Poudyal
Three-day training on academic research focuses on analytical tools at United Technical College, supported by the University Grant Commission, Nepal. 24-26 May 2024
Literature Review Basics and Understanding Reference Management.pptx
20071005 jcm-loop-flow-study-phase-02
1. Loop Flow Study Phase II
Joint and Common Market Initiative
Joint Stakeholder Meeting
October 5, 2007
2. 2
Loop Flow Study Phase I – Background and Purpose
Loop flows were increasing in the 2005 to 2006 timeframe
1,000 MW (about 200%) on the TVA-PJM and MECS-PJM
interfaces
500 MW (about 100%) on the NY-PJM interface
600 MW (about 60%) on the Michigan-Ontario interface
On June 28, 2006, the Midwest ISO and PJM included a new Joint and
Common Market (JCM) initiative to investigate loop flows across the
combined Midwest ISO and PJM footprint
Purpose
Increase the understanding of the impact that all entities have on
the creation of loop flows
Provide details on plans and actions to address the reliability
problems associated with loop flows
3. 3
Midwest ISO and PJM Meeting with FERC Staff
Midwest ISO and PJM representatives met with the FERC Staff on September 5,
2007, to present the JCM Loop Flow Study results. Key points from the
presentation are as follows:
Loop flow is a reliability problem, not merely an economic one
Push the industry to require all Balancing Authorities (BAs) provide real-time
generation-to-load impacts along with point-to-point impacts to the IDC on an
hourly basis
Require NERC/NAESB to change the IDC to reduce its sensitivity factor cutoff
below the current 5% threshold to improve the short-term ability for TLR to
manage loop flows
Require other ISOs and RTOs who operate LMP-based markets in the Eastern
Interconnection to implement interregional congestion management protocols
based on the Midwest ISO/PJM process
Require NERC/NAESB to develop a more reliable approach to congestion
management beyond the current practice of curtailing point-to-point transactions
through TLR. The new approach should also provide more economic solutions.
4. 4
Recommendations for Congestion Management Process Enhancements
All entities should calculate and post to the IDC, at least each hour,
all generation-to-load impacts on transmission facilities
The Midwest ISO and PJM currently post this information to the IDC
every 15 minutes
These flows are curtailable via the TLR process
All Midwest ISO and PJM impacts down to 0% are included in this
calculation
The TLR process only considers transmission service impacts across
BA boundaries greater than 5% and no generation-to-load impacts
An interconnection-wide Congestion Management Process should
include real-time calculation and accounting for generation-to-load
impacts by all neighboring entities
Reliability Coordinators need greater transaction tag visibility on a
real-time basis through a more open interregional data exchange
process
BA-to-BA energy tags
Generation-to-Load flows
5. 5
Additional Recommendations
IESO and NYISO should adopt a Congestion
Management Process whereby they report their market
flows to the IDC and participate with Midwest ISO and
PJM to manage circulation flows around Lake Erie when
congestion occurs
An Energy Schedule Tag Database Archive that
contains tag impacts, market flow impacts, and
generation-to-load impacts for all flowgates in the IDC
should be created such that this data is readily available
to all reliability entities
6. 6
Loop Flow Study Phase I – Follow-up
Phase I Study Follow-Up
Have received written comments on the Phase 1 study report
from ITC. Will confirm that IESO, NYISO and TVA do not
intend to submit written comments.
Met with FERC staff on September 5, 2007 to provide them
an overview of the Loop Flow Study Phase I report. Will
contact FERC staff whether they need additional information
beyond what was presented at the September 5, 2007
meeting.
Develop appropriate action items based on
recommendations from the Loop Flow Phase I Study report.
These action items will be tracked and progress will be
reported to the JCM Stakeholders.
7. 7
Loop Flow Study Phase II Proposal Summary
Go to the next level of granularity on the Midwest ISO/PJM
loop flow study.
Analyze flowgates internal to Midwest ISO and PJM
markets as well as flowgates on the border between
Midwest ISO and PJM and between the two RTOs and
outside entities.
Identify flowgates located within the two markets that have
experienced congestion during the last two years.
Analysis will examine data for specific dates and times
when these flowgates experienced high flows and will
identify the contributors to these high flows.
8. 8
Loop Flow Study Phase II Proposal Summary
Flowgates to be considered have a history of:
Significant Transmission Congestion
Significant Market-to-Market flows
High number and/or duration of TLR implementation
Midwest ISO and PJM will perform study in coordination
with other Reliability Coordinators and Transmission
Owners impacted by loop flows
Periodic reports will be made to the JCM Stakeholders
Develop additional mitigation strategies to better manage
loop flows in real-time operations
Develop the ability to predict loop flows based on system
conditions
9. 9
Loop Flow Study Phase II
KEY ACCOMPLISHMENTS
• Developed Loop Flow Study Phase II Scope Document.
• Tag data for IESO, Midwest ISO, NYISO, PJM and TVA was
obtained for Phase I study.
UPCOMING ACTIVITIES
• Review Loop Flow Phase II scope with JCM Stakeholders
• Develop project plan.
• Initiate discussion on receiving updates to the tag data base on
previously executed confidentiality agreements.
ISSUES & CONCERNS
• None at this time.
On Target – No IssuesG
R
Y
Completed
Need to watch – Some Issues
In Jeopardy – Significant Issues
C
Legend
JCM Lead
• Midwest ISO: T. Mallinger
• PJM: S. Williams
Overall StatusG
Develop Project Plan
Milestone Summary
G Define Scope
G
10. 10
Benefits
Enhanced Situational Awareness - Will provide
Reliability Coordinators with real-time information on
the sources of loop flow over a wider area
Enhanced Reliability - Will enable a more reliable
approach to managing transmission congestion than
is possible with the current TLR approach
Enhanced Economics – Will not only ensure a solution
to resolve congestion is always achieved but will also
ensure that the most economical solution is also
achieved