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Real-time availability of electricity prices via a smart power grid has a potential bilateral benefit to electricity users and suppliers. The users can reduce their costs by consuming energy during low-price hours and balancing their energy usage during other hours. This in turn benefits energy utility companies by reducing their peak power demand. This article describes an optimal shrinking horizon...
The integration of renewable generation requires updates in transmission planning criterion and transmission pricing method. To reflect the recent updates in GB NETS SQSS, an improved ICRP method was developed. The main modification is the development of dual backgrounds - Peak Security (PS) background and Year Round (YR) background. The capacity sharing concept is introduced into YR background and...
Methods are discussed for planning oriented smart grid control to cope with scenarios with limited predictability, supporting an increasing penetration of stochastic renewable resources. The performance of these methods is evaluated with simulations using measured wind generation and consumption data. Forecast errors are shown to affect worst case behavior in particular, the severity of which depends...
The popular concept of a “Smart Grid” involves an integration of novel information and communications technologies across an evolving electricity system spanning generation, transmission, distribution and customer networks. For example, distributed generation, energy efficiency, and demand-side management will enable and affect many changes in the electric grid. Drivers for an advanced grid include...
Forecasting of electricity price in the competitive power market has become very important for the market participants in order to support their planning and operations activities. In addition to the change in prices caused by the demand levels (reflected in normal interaction between supply and demand), numerous other factors affect the electricity price including the sudden surges in prices which...
The aim of this paper is to analyze the power crisis in India as a function of both supply and demand. Given the history of underachievement in meeting the supply-demand gap, we explore some short and long-term solutions both on supply and demand side. In the context of India, these solutions each have certain limitations with respect to feasibility and their usefulness in meeting the energy gap....
In this paper we emphasize the fundamental importance of relating the short-term efficiencies in utilizing the existing equipment to the capital cost of candidate new investments. We suggest that the systematic assessment of candidate investments based on understanding the break-even cumulative short-term system performance with the capital cost of the investments is the key to selecting the investments...
This paper presents a comprehensive modeling approach that addresses the long-term generation expansion planning problem for an investor firm operating in a deregulated market environment. The mathematical model facilitates the ability of multi-period investments in multi-technology generation options. This work provides insight into the nature of the planning problem by determining optimal timing...
Electricity transmission planning does not have a common solution worldwide, with most countries trusting on alternatives adapted to the local energy markets' regulatory regime. The fast-growing conditions of the Chilean energy market, driven by private agents, meant the need to introduce changes to the original 1982 regulatory framework, being transmission pricing and investment among the main issues...
This paper presents a day-based stochastic unit maintenance scheduling (UMS) model for a power producer in a pool-based power market. Its objective is to maximize the producer's benefit over the entire scheduling periods, with emphasis on potential risk associated with the fluctuating electricity prices. In the proposed model, the producer's potential benefit is analyzed in detail, mainly including...
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