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This paper proposes a systematic method for evaluation of optimal spot prices using genetic algorithm as well as classical method. Spot pricing of electricity in a power system was proposed during early eighties considering unit generation and consumer usage as decision variables. With restructuring followed by deregulation, a number of players have started participating in the competitive power market...
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...
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...
In this paper economic effect of demand response programs on coupled active/reactive market prices in deregulated electricity markets has been presented. The main objective of the proposed coupled active/reactive power dispatch model is to minimize the total payment burden on the Independent System Operator (ISO). Optimal location and amount of DR has been determined by the modified optimal power...
As a market signal concerned by all parties, transmission capacity has an important economic value in the competitive electricity market. Because of the present model and method's shortage of calculating Total Transfer Capabiliy (TTC) based on Optimal Power Flow (OPF), which may either lead to shed load in some nodes under a feasible base-case power flow state, or could not reasonably deal with an...
Proxy limits are used to represent voltage constraints from an AC power flow as line flow constraints in a DC power flow. When a DC power flow is used to settle markets, the use of proxy limits can introduce errors in LMPs, dispatch, or both. This paper describes a method to obtain the optimal set of proxy limits for known voltage constraints. We discuss the general properties of these proxy limits.
Cross-border flows of electricity and the related cost recovery mechanisms have been discussed extensively within the TSO community as power markets have increasingly been integrated and the subsequent exchanges of electricity have increase considerably. Simple tariffication schemes typically fail to explain all effects of mutual usage between market participants such as generators and loads in interconnected...
An effective nodal price modeling is the key factor in managing transmission issues, which is able to generate correct economic signal. This paper examines the main idea behind the congestion-based nodal price modeling and further discusses the techniques used to incorporate transmission usage tariff into the model as a scheme of the authors' proposed models. In this comprehensive approach pricing...
This paper describes the challenges faced by the California ISO in testing the integration of the new California real-time nodal market with the energy management system. The paper addresses how an operator training simulator was used for testing the real time market and some critical functions of EMS. CAISO's EMS dispatcher training simulator was modified and coupled with CAISO's market applications...
In this paper it is presented a formulation for the DC optimal power flow problem considering load and generation cost uncertainties and the corresponding solution algorithms. The paper also details the algorithms implemented to allow the integration of losses on the results as well the algorithm developed to compute the nodal marginal price in the presence of such uncertainties. Since loads and generation...
Marginal prices have been recognized as the core approach to the economic evaluation of generation and transmission services in an electricity market environment. In this context, this paper presents the new fuzzy optimal power flow algorithm as a model to addresses the impact of load and generation cost uncertainties in nodal marginal prices. Since loads and generation costs are represented by fuzzy...
In electricity market, the power transactions needs to be executed under strict physical and other constraints, such as transmission congestion which may lead to the decrease of market efficiency. In the paper, under considering transmission congestion, it establishes the model that reflects market transaction, including generator output and sale price. Then it gives index system which is used to...
In power market environment, available transfer capability is an important index which is defined as the maximum additional power that can be transmitted in an interchange schedule between the specified buses. In this paper, emergency demand response program, which is one of the incentive-based demand response programs, is used as a method for available transfer capability enhancement, and this implementation...
Bottlenecks on transmission line becomes an obstacle for the perfect competition of power market. One obvious drawback of such constraint is congestion. When congestion occurs, power market may be inefficient due to re-dispatch of generators connected to the grid. Energy prices vary throughout the network as generating costs raise in congested area, called locational marginal prices (LMP). In this...
In this paper, a comprehensive problem for calculating active and reactive spot prices based on short run marginal cost theory is presented. In order to calculate marginal costs, an optimal power flow, including objective function and constraints, is solved, that is real and reactive power dispatch so as to minimize total operating cost of utilities, subject to the operational constraints. The goal...
This paper presents an approach to develop an optimal bidding strategy for a generation company (GenCo) in the network constrained electricity markets. A bi-level programming (BLP) technique is formulated in which upper level problem represents an individual generating company (GenCo) payoff maximization and the lower level represents the independent system operator's (ISO) market clearing problem...
Security constrained optimal power flow programs are important tools for ensuring correct dispatch of supply while respecting the many constraints imposed by the delivery system. In addition to getting the dispatch right, locational prices must be calculated with equal precision in order to infuse market participants with the proper incentives for operation and investment. In this paper we discuss...
The problem of cross border interchange and of allocation of exchange capacities between interconnected countries of the European Community has gained an ever increasing importance during the most recent years. The reasons for that are to be found in the existing price gap between different countries as well as in the limited exchange capacity of some interconnection corridors. As a result, the European...
Basic concept of nodal price modeling in competitive market environment and some special considerations on its formulation are presented in this paper. Nodal prices represented by locational marginal prices (LMP) based settlement strategy is carried out in a deregulated market environment to establish the amount of money received by generation companies from system operator and paid to system operator...
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