Abstract
In 2021, the energy sector was put at risk by extreme weather in many different ways: North America and Spain suffered heavy winter storms that led to the collapse of the electricity network; California speci fi cally experienced heavy droughts and heat -wave conditions, causing the operations of hydropower stations to halt; fl oods caused substantial damage to energy infrastructure in central Europe, Australia, and China throughout the year, and unusual wind drought conditions decreased wind power production in the United Kingdom by almost 40% during summer. The total economic impacts of these extreme weather events are estimated at billions of U.S. dollars. Here we review and assess in some detail the main extreme weather events that impacted the energy sector in 2021 worldwide, discussing some of the most relevant case studies and the meteorological conditions that led to them. We provide a perspective on their impacts on electricity generation, transmission, and consumption, and summarize estimations of economic losses.

Abstract
This study proposes a simplified and fully renewable energy system, composed of two intermittent energy sources (wind and solar) and a long-duration energy storage technology using pumped hydro storage. The impact of intermittency on the medium- and long-term design of the energy matrix is evaluated using the OSeMOSYS model. The findings indicate that omitting intermittency results in a significant underestimation of costs and an inability to manage the variability of renewable energies effectively. Incorporating intermittency, although increasing the installed capacity and the amount of wasted energy, enhances the system's reliability. The inclusion of energy storage demonstrates the need to redistribute installed capacity in favor of solar energy to meet higher daytime demand. The study concludes that considering intermittency and storage is crucial for improving the accuracy of energy models, reducing losses, and optimizing operational costs in renewable energy-based systems.

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Abstract
Reliability analysis of large power networks requires accurate aggregate models of low voltage (LV) networks to allow for reasonable calculation complexity and to prevent long computational times. However, commonly used lumped load models neglect the differences in spatial distribution of demand, type of phase-connection of served customers and implemented protection system components (e.g., single-pole vs three-pole). This paper proposes a novel use of state enumeration (SE) and Monte Carlo simulation (MCS) techniques to formulate more accurate LV network reliability equivalents. The combined SE and MCS method is illustrated using a generic suburban LV test network, which is realistically represented by a reduced number of system states. This approach allows for a much faster and more accurate reliability assessments, where further reduction of system states results in a single-component equivalent reliability model with the same unavailability as the original LV network. Both mean values and probability distributions of standard reliability indices are calculated, where errors associated with the use of single-line models, as opposed to more detailed three-phase models, are quantified.

Abstract
Proactive participation of uncertain renewable generation in the day-ahead (DA) wholesale market effectively reduces the system marginal price and carbon emissions, whilst significantly increasing the volumes of real-time balancing mechanism prices to ensure system security and stability. To solve the conflicting interests over the two timescales, this article: 1) proposes a novel hierarchical optimization model to align with the actual operation paradigms of the hierarchical market, whereby the capacity allocation matrix is adopted to coordinate the DA and balancing markets; 2) mathematically formulates and quantitatively analyses the long-term driving factors of balancing actions, enabling system operators (SOs) to design efficient and well-functioning market structures to meet economic and environmental targets; 3) empowers renewable generating units and flexible loads to participate in the balancing market (BM) as 'active' actors and enforces the non-discriminatory provision of balancing services. The performance of the proposed model is validated on a modified IEEE 39-bus power system and a reduced GB network. Results reveal that with effective resource allocation in different timescales of the hierarchical market, the drop speed of balancing costs soars while the intermittent generation climbs. The proposed methodology enables SOs to make the most of all resources available in the market and balance the system flexibly and economically. It thus safeguards the climate mitigation pathways against the risks of substantially higher balancing costs.