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Lease Contract Design for Electric Bus-Assisted Distribution System Resilience Enhancement

Electric buses (EBs) have great potential in resilience enhancement for distribution systems (DSs) against meteorological disasters. The considerable scale and unified management enable dispatched EBs to supply emergency power to DS. Thus, the grid company can coordinate with the bus company to utilize EBs for resilience enhancement. This paper studies how the grid company can minimize the load loss and the cost of resilience enhancement before a disaster by utilizing social resources including EBs. A framework for pre-disaster lease contract design is proposed. Considering the high impact and low probability of meteorological disasters, Conditional Value-at-Risk (CVaR) is introduced to evaluate the fat-tail risk. A two-stage stochastic model with CVaR is established to make the specific contract. Pre-disaster decisions are made in the first stage and the DS is restored in the second stage. The risk preference of the grid company is reflected by the confidence level of CVaR in the model. The progressive hedging algorithm for stochastic programming with CVaR is applied in this paper to solve the problem. The proposed framework is tested on the IEEE 33-bus system. The results demonstrate the effectiveness and the efficiency of our work.