Effects of the COVID-19 Pandemic on Energy Systems and Electric Power Grids—A Review of the Challenges Ahead

Navon, Aviad; Machlev, Ram; Carmon, David; Onile, Abiodun Emmanuel; Belikov, Juri; Levron, Yoash

doi:10.3390/en14041056

Cited by 73 publications

(33 citation statements)

References 35 publications

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“…Elevated levels of volatility in the energy markets indicate a shortage of futures and options lines in the energy market segment. Navon et al [41] states that the COVID-19 pandemic not only represents a global health crisis but may also be the sign of a new era of economic activity, the potential consequences of which we currently do not fully understand. They ask the questions: how will the pandemic affect the integration of renewable energy sources and should current plans for power system expansion be changed?…”

Section: Literature Reviewmentioning

confidence: 99%

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Bieszk‐Stolorz

Markowicz

2021

Energies

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Many factors influence the prices of energy commodities and the value of energy and fuel companies. Among them there are the following factors: economic, social, environmental and political, and recently also the COVID-19 pandemic. The aim of the paper is to examine what the probability and intensity of a decrease in the prices of shares of energy and fuel companies listed on the Warsaw Stock Exchange (Poland) was during the first wave of the pandemic in the first quarter of 2020. The study used the survival analysis methods: the Kaplan-Meier estimator, the test of equality of duration curves and the Cox non-proportional hazards model. The analysis showed that the probability and intensity of price decline of energy and fuel companies in the initial period was the same as that of other companies. The differences become apparent only after 50 days from the established maximum of their value. The risk of price declines in energy and fuel companies increased significantly. This situation was related both to a temporary reduction in demand for energy and fuels, pandemic restrictions introduced in individual countries and the behaviour of stock market investors.

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Section: Literature Reviewmentioning

confidence: 99%

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Bieszk‐Stolorz

Markowicz

2021

Energies

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“…In the African region, researchers have investigated the impact of the lockdown measures in the South African power grid where a 20.2% peak demand reduction and a 28.1% energy consumption reduction were observed [16]. Moreover, other regions in the world, such as the East Asian region, have seen significant electricity consumption reductions with around 13% demand drops [17]. Comprehensive reviews of the mid-to-long range impacts of the pandemic in the energy sector are presented in [14], [17], [18].…”

Section: Introductionmentioning

confidence: 99%

Load-Altering Attacks Against Power Grids under COVID-19 Low-Inertia Conditions

Lakshminarayana¹,

Ospina²,

Konstantinou³

2022

Preprint

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The COVID-19 pandemic has impacted our society by forcing shutdowns and shifting the way people interacted worldwide. In relation to the impacts on the electric grid, it created a significant decrease in energy demands across the globe. Recent studies have shown that the low load demand conditions caused by COVID-19 lockdowns combined with large renewable generation have resulted in extremely low-inertia grid conditions. In this work, we examine how an attacker could exploit these conditions to cause unsafe grid operating conditions by executing load-altering attacks (LAAs) targeted at compromising hundreds of thousands of IoT-connected high-wattage loads in low-inertia power systems. Our study focuses on analyzing the impact of the COVID-19 mitigation measures on U.S. regional transmission operators (RTOs), formulating a plausible and realistic leasteffort LAA targeted at transmission systems with low-inertia conditions, and evaluating the probability of these large-scale LAAs. Theoretical and simulation results are presented based on the WSCC 9-bus test system. Results demonstrate how adversaries could provoke major frequency disturbances by targeting vulnerable load buses in low-inertia systems.

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“…As pointed out in [26,27], the COVID-19 pandemic is not limited to a global health crisis, but it showed adverse impacts on numerous other activity sectors as well, including power systems operation. In the midst of power systems transition, due to the new technologies integration (renewables, storage systems, electrical vehicles etc.…”

Section: Introductionmentioning

confidence: 99%

Short-Term Load Forecasting Using Convolutional Neural Networks in COVID-19 Context: The Romanian Case Study

et al. 2021

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Short-term load forecasting (STLF) is fundamental for the proper operation of power systems, as it finds its use in various basic processes. Therefore, advanced calculation techniques are needed to obtain accurate results of the consumption prediction, taking into account the numerous exogenous factors that influence the results’ precision. The purpose of this study is to integrate, additionally to the conventional factors (weather, holidays, etc.), the current aspects regarding the global COVID-19 pandemic in solving the STLF problem, using a convolutional neural network (CNN)-based model. To evaluate and validate the impact of the new variables considered in the model, the simulations are conducted using publicly available data from the Romanian power system. A comparison study is further carried out to assess the performance of the proposed model, using the multiple linear regression method and load forecasting results provided by the Romanian Transmission System Operator (TSO). In this regard, the Mean Squared Error (MSE), the Mean Absolute Error (MAE), the Mean Absolute Percentage Error (MAPE), and the Root Mean Square Error (RMSE) are used as evaluation indexes. The proposed methodology shows great potential, as the results reveal better error values compared to the TSO results, despite the limited historical data.

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Effects of the COVID-19 Pandemic on Energy Systems and Electric Power Grids—A Review of the Challenges Ahead

Cited by 73 publications

References 35 publications

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Decline in Share Prices of Energy and Fuel Companies on the Warsaw Stock Exchange as a Reaction to the COVID-19 Pandemic

Load-Altering Attacks Against Power Grids under COVID-19 Low-Inertia Conditions

Short-Term Load Forecasting Using Convolutional Neural Networks in COVID-19 Context: The Romanian Case Study

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