Abstract
Abstract This paper develops a stochastic equivalence approach for an Ornstein-Uhlenbeck process-driven power system. The concept of stochastic equivalence coupled with stochastic differential rule plays the important role to develop the stochastic equivalence approach of this paper. This paper also develops the prediction theory of power system dynamics with the OU process as well.
Highlights
The stochastic differential equation (SDE) is caused by random term. This random term can be represented in form of white noise process or coloured noise process
In contrast to Hirpara and Sharma (2015), we developed stochastic power system dynamics in the presence of an Ornstein-Uhlenbeck (OU) process with the stochastic equivalence approach and examine the effectiveness of the prediction equations with no observations or valueless observations
It is shown that for a smaller correlation time, the trajectories of SDEs stated in equation (20) and equation (21) are coinciding to each other
Summary
The stochastic differential equation (SDE) is caused by random term This random term can be represented in form of white noise process or coloured noise process. The white noise driven-Itô SDE model for a power system dynamics, see (Wang and Crow 2013; Hirpara and Sharma 2015). This paper is aimed to analyse power system dynamics with the stochastic equivalence approach. In contrast to Hirpara and Sharma (2015), we developed stochastic power system dynamics in the presence of an Ornstein-Uhlenbeck (OU) process with the stochastic equivalence approach and examine the effectiveness of the prediction equations with no observations or valueless observations.
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