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As an effective measure of demand response programs, interruptible load management has been widely used in electricity markets. This paper addresses the problem of what impacts of interruptible load (IL) contracts will have on the equilibrium outcomes of electricity wholesale markets. First, a market demand model is developed to take considerations of IL contracts. Next, a linear supply function equilibrium...
Option contracts have been widely applied in electricity markets for their advantages of flexibility and diversity. While risk management using option contracts has been extensively investigated, impacts of these option contracts on generation companies' (Gencos') strategic bidding behaviors and the market equilibrium outcomes have not been well understood. For this purpose, this paper addresses the...
In the deregulated power systems, the interruptible load management (ILM) is widely used as an effective measure to ensure reliability and mitigate the market price spike. A critical issue is the incentive paid to the consumers to participate in the ILM. This paper addresses the quantification and allocation of ILM's benefit from mitigating the wholesale price spike. This benefit is calculated within...
This paper presents a probabilistic optimal power flow (POPF) algorithm taking account of the variation of load power. In the algorithm, system load is taken as a random vector, which allows us to consider the uncertainties and correlations of load. By introducing the nonlinear complementarity problem (NCP) function, the Karush-Kuhn-Tucker (KKT) conditions of POPF system are transformed equivalently...
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