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Deregulated electricity markets in the U.S. currently minimize total bid costs to select bids and their generation levels but determine payments based on market clearing prices. The inconsistency between auction and settlement mechanisms can lead to a significantly higher consumer payment. This gives rise to the “payment cost minimization,” an alternative auction mechanism that minimizes consumer...
In this paper we develop a model of combined heat and power (CHP) dispatch for the system consisting of both thermal generators and wind turbines. In this model, the probability of stochastic wind power is included in the constraint set. This approach avoids the probabilistic infeasibility caused by using the average of random variables. The effects of wind speed on the generated power are investigated...
Negotiation of secure bilateral transactions has become an important issue for better operation, planning and management of competitive electricity markets. In this paper, secure bilateral transactions have been determined with minimum deviations in economic generation schedule and real power losses for hybrid electricity markets. The generation pattern and real and reactive power loss has been obtained...
The deployment of plug-in hybrid vehicles (PHEVs) and micro-combined heat and power (μ-CHPs) technologies creates the opportunity for these units to be optimally operated under various control schemes to enhance electric grid operation. In addition, if vehicle-to-grid (V2G) and thermal storage features are considered, these embedded technologies could have even a greater impact on network performance...
To assess the cost associated with wind integration, a comprehensive technical analysis must be done first. NYISO has spent the last five years investigating the impact on system planning and operations and providing the needed information to facilitate wind integration.
This paper represents a modified dynamic programming solution to the unit commitment (UC) problem. The UC is a complex decision-making process because of multiple constraints which may not be violated while finding the optimal or suboptimal commitment schedule. There are many methods to solve the UC problem gradually. So, before we present our method, we will show the drawbacks of the standard dynamic...
This paper proposes a simple, yet rigorous, model for MW dependent ramp rates. The model is formulated as mixed linear integer constraints, and is appropriate for Unit Commitment and multi-interval dispatch formulations used by Independent System Operators (ISO) and self-scheduled generators in electricity markets. 5-bus examples are used to demonstrate the value of the proposed model, as it guarantees...
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