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A methodology based on data mining techniques to support the analysis of zonal prices in real transmission networks is proposed in this paper. The mentioned methodology uses clustering algorithms to group the buses in typical classes that include a set of buses with similar LMP values. Two different clustering algorithms have been used to determine the LMP clusters: the two-step and K-means algorithms...
We examine the impact of the friction that exists between wholesale energy markets and system operations on the efficiency of the market outcomes. We elaborate on some basic implications of system operation practices on the design of wholesale energy markets. This analysis is intended to provide a basis for enhancements to existing principles of system operation and bridge the gap between energy market...
Summary form only given: In power market studies, the forecast of locational marginal price (LMP) relies on the load forecasting results from the viewpoint of planning. It is well known that short-term load forecasting results always carry certain degree of errors mainly due to the random nature of the load. At the same time, LMP step changes occur at critical load levels (CLLs). Therefore, it is...
This paper proposes a new pricing mechanism and dispatch model for reactive power service from distributed generation (DG) resources, including wind turbines and solar photovoltaic plants, connected to a low voltage distribution system. Novel cost functions of reactive power service are proposed for DG resources as well as alternative VAR suppliers such as STATCOM and capacitor banks, taking into...
Within the context of recent interest in `Smart Grids', this paper considers the possibility that domestic consumers could participate in demand side management. Price is one of the main concerns for domestic consumers, and hence Real Time Pricing (RTP) can have an influence on consumers with dispatchable generation such as micro combine heat and power (micro-CHP). These systems can reduce the annual...
Summary form only given. Power system planning and operation is designed to ensure sufficient reserve margins and the ability to adequately withstand sudden events or contingencies such as outages of transmission lines, transformers and generators. Approaches to address the planning aspects have been discussed under the topic of Resource Adequacy and continue to evolve. Approaches to address operational...
Capacity markets have been launched at several ISOs in the US. Many questions arise: Is a capacity market for missing money or reliability? What is a capacity product? How to price the capacity product? These questions are nontrivial and have been discussed in the literature mostly from the economics perspective. This paper attempts to address them from both economics and engineering perspectives...
Smart grid technologies in combination with the methodological foundation laid by the economic theory of Priority Service, enable the conversion of electric service reliability from a public good to a private good. Such a transformation is achieved by offering electricity service as a product line differentiated according to service reliability from which customers can self-select the level of reliability...
This paper proposes a novel technique to forecast day-ahead electricity prices based on Panel Cointegration (PC). The current researches on the electricity price forecasting focus on the analysis of unstable economic time series. However, due to the difference of the allocation of power resource and consumption in different regions, the time series of electricity consumption and sales price in a single...
The EPAct 2005 expresses the Federal Government's commitment to provide supporting infrastructures for electricity demand response to all classes of customers. Most end-use residential consumers are not able to participate in such program under current price structure. They are billed monthly with a static constant rate regardless of fluctuating true costs of electricity in real-time. With the increased...
The retail company on the liberalized electricity market faces an increasing price risk exposure, stemming from the uncertain demand and the wholesale market price volatility. In the paper the influence of the stochastic parameters on the retailer's overall risk exposure is analyzed. After constructing the appropriate models for consumer demand, electricity spot price and forward price curve, the...
Network pricing analysis has always been complex for distribution networks due to the data size involved. Simplified reference network models help to reduce the data to be handled, and hence the associated complexity. These models provide a test system to assess the investment consequences of applying different network charging approaches and analyze the impact of such approaches on customer end prices...
This paper describes the implementation of demand response (DR) program in CAISO. A Participating Load Pilot (PLP) program has been implemented in CAISO system during summer 2009. This is the first time that a cross-section of residential, commercial and industrial customers has been in the PL (Participating Load) program and modeled in CAISO systems. This paper takes this Participating Load Pilot...
In the Nordic market, manually activated tertiary control based on bids for upward and downward regulation is used for system balancing. Although a system wide merit order list is used, the resulting regulation is suboptimal because of the congestion and the effect of losses, which are not taken into account. This paper proposes an algorithm for the dispatch of regulation resources based on an incremental...
Under standard approach, locational marginal prices (LMPs) are generally decomposed into system marginal (energy) price (SMP), marginal congestion cost (MCC), and marginal loss cost (MLC). However, earlier work has shown that it is not possible to separate the standard decompositions of LMPs into three mutually orthogonal subspaces. It is also found that MLC term of standard LMP inherently depends...
Locational marginal pricing (LMP) data available from PJM makes an in-depth analysis of the true worth of photovoltaic electricity generation possible. This paper provides a comparison of commonly used average retail electricity prices and average prices of electricity determined by the combination of empirically collected energy generation created by two photovoltaic systems and the available PJM...
Locational marginal price (LMP) is a fundamental principle in the majority of electricity markets and is increasingly being employed at a number of ISO's such as PJM, california ISO, etc. It is essential to obtain the accurate value of LMPs. This paper presents an OPF formulation with a composite dynamic load models which is a composite of ZIP and induction motor loads. An improved locational marginal...
Our analysis shows that there is likely to be minor short term risk or reward for electric utilities with respect to electric vehicle adoption, but also that significant long term value or risk exists, depending on how judiciously utilities manage pricing, charging and infrastructure. The margin of difference between profit and loss lies with the extent to which customer adoption is clustered, whether...
Our research team is developing an agent-based test bed for the integrated study of retail and wholesale power markets operating over transmission and distribution networks with smart-grid functionality. This test bed seams together two existing test beds, the AMES Wholesale Power Market Test Bed and the GridLAB-D distribution platform. As a first step, we have designed an integrated retail/wholesale...
In the present work, the problem of energy market price clearing and generation company (Genco) strategic bidding is considered in the framework of existing day-ahead markets with system marginal price auction. The situation of imperfect competition arising when one of the Gencos is large enough to exert market power is considered in detail, showing what bidding behaviors are to be expected when such...
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