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Before deregulation, th Korea Electric Power Corporation (KEPCO) had been a vertically integrated monopoly over power generation, transmission, and distribution. However, the generation competition market based on Cost based pool (CBP) began in April, 2001. The KEPCO generation department has been allocated into six independent GenCos. Before the reform of the power industry that took place in South...
Since 2004 changes in the regulatory framework of the Chilean public and electricity sectors have been taken place (19940 law in March 2004). Transparency rules must be following by the market agents in pricing procedures of the electricity market. Consequently, technical, economical, and reliability data of the Chilean power system are available for simulation and optimization purposes. The Chilean...
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 paper focuses on reliability assessment of power systems with wind power generation. A Monte Carlo based production cost simulation model is introduced in the paper. The model closely simulates actual system operation processes and takes system random behaviors into account. A simplified unit commitment method is created to fit the simulation for reliability evaluation purpose. The effects of...
This paper presents two small test systems for power system economic studies. The first system is based on the original PJM 5-bus system, which contains data related to real power only, because it demonstrates results based on the linearized DC optimal power flow (OPF) model. This paper suggests some modification to the original data, as well as new parameters related to reactive power such that AC-model-based...
A new optimal power flow (OPF) model accounts for electro-thermal coupling relationship is established based on electro-thermal coordination (ETC) concept in this paper This new OPF model organically combines the traditional OPF with heat balance equation (HBE) which reflects thermal dynamic process of transmission component. It considers the temperature limit of transmission component as its security...
This paper presents initial results of a grid restoration study carried out in the cities of Berlin and Hamburg. The objective of the study was to identify the optimal restoration strategy for the local distribution network by using only units available within the service areas. By putting the strategy into practice, partial restoration can be achieved faster and the cities are not totally dependent...
The debate on which is the best incentive for transmission expansion is still active. Discussions center on economic mechanisms based on game theory to expand transmission. There is a mix of experiences and they vary in function of the level of interaction of market agents. Identifying the agents' strategies will allow a better understanding of the market's dynamics. This article assesses regulatory...
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...
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...
For an electric power system to meet the demand for electricity depends not only on subsystems of generation, transmission and distribution, but also on the ability to supply primary energy sources such as natural gas, oil and coal. The effects of a contingency in some of the subsystems, including supply networks, can propagate and affect system operations in terms of availability and price. In a...
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...
This paper describes an undergraduate or graduate level student project that involves the design of an energy-efficient standalone distributed generation system integrating existing fossil fuel based energy sources with renewable energy sources and smart grid technologies for off-grid communities. One such application is the development of stand-alone electric power sources for Native American villages...
A common practice for the Ex Post LMP calculation at a number of US ISOs uses a small constant range, typically from -2.0 MW to +0.1 MW, as each generator's lower and upper bounds. However, this paper shows that this common practice lacks theoretic justification and may lead to inconsistent results. For example, if the ex post dispatch results are identical to the ex ante dispatch schedules, it is...
As power systems evolve to incorporate greater penetrations of variable renewables, the demand for flexibility within the system is increased. Combined Cycle Gas Turbines (CCGTs) are traditionally considered as inflexible units but those which incorporate a steam bypass stack are capable of open-cycle operation. Facilitating these units to operate in open-cycle mode is shown to improve system reliability...
Electricity infrastructure touches us all - the key challenge, pertinent to this panel session, is to enable secure and very high-confidence sensing, communication and control of a heterogeneous, widely dispersed, yet globally interconnected system, which is a serious technological problem in any case. It is even more complex and difficult to control it for optimal efficiency and maximum benefit to...
The ability of the liberalised energy markets to trigger investment in the generation capacity required to maintain an acceptable level of security of supply risk has been - and will continue to be - a topic of much debate. Modelling the dynamics of investment in generation capacity can inform this debate. More precisely, if investment is viewed as a negative feedback control mechanism with energy...
This paper proposes a new mechanism to give added incentive to invest in new capacities in deregulated electricity markets. An optimization problem to maximize long term social welfare includes binary variables for the building of new facilities, and continuous variables for generation, i.e. the model is a mixed integer nonlinear program. The new mechanism also includes a new approach to calculate...
Electricity markets are currently evolving to accommodate large scale penetration of wind generation. In this research, potential changes to the classification and role of wind generators in the Single Electricity Market (SEM), the market for Northern Ireland and the Republic of Ireland, are examined. The effect of wind generators opting to become price-making and the potential for wind generators...
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