A general formulation for LMP evaluation

Orfanogianni, T.

doi:10.1109/pesgm.2012.6345491

Cited by 24 publications

(25 citation statements)

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“…Marginal are the generators which are dispatched neither at their minimum nor at their maximum limit. In [2], similar results are obtained for the general case, namely that the nodal prices are a function of the marginal generators costs and the network constraints, including the losses.…”

Section: Description Of the Approachsupporting

confidence: 57%

HVDC line placement for maximizing social welfare — An analytical approach

Chatzivasileiadis

Krause

Andersson

2013

2013 IEEE Grenoble Conference

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This paper derives a method for HVDC line placement in order to maximize social welfare. Assuming linear generator costs, it shows that for N congestions, there exist exactly N + 1 marginal generators. It then demonstrates that HVDC lines connecting a high-cost with a low-cost marginal generator lead to the maximization of social welfare. The method poses an upper bound on the line installation costs, which could also be used to increase the efficiency of optimization algorithms. At the same time, it shows that an optimal HVDC placement is not necessarily along the overloaded lines. Furthermore, an algorithm for HVDC placement is developed taking into account the line capacity and the generator constraints to estimate expected generation cost savings. The validity of the approach is demonstrated on two case studies: a 10-bus network, and a simplified European network.

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Section: Description Of the Approachsupporting

confidence: 57%

HVDC line placement for maximizing social welfare — An analytical approach

Chatzivasileiadis

Krause

Andersson

2013

2013 IEEE Grenoble Conference

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“…OPF is the integration of power flow calculation and minimization of economic objective function subject to the equality and inequality constraints. As known, power injected into all nodes is equal to power withdrawn plus transmission losses which can be written as [2]: (8) Where: is the transmission losses in the power system is the sum real power generated from node i is the sum real power demand at node i Based on the equation (8), the the corresponding Lagrangian equation can be defined as follows [15]: (9) Where:…”

Section: B Locational Marginal Pricementioning

confidence: 99%

Variously worldwide types of deregulated electricity markets and their respective transmission congestion management schemes

Zhao

2016

2016 51st International Universities Power Engineering Conference (UPEC)

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In this paper, four practical and successful deregulated electricity markets: the old England & Wales Pool, the British Electricity Trading and Transmission Arrangements (BETTA), Nordic Pool and PJM interconnection will be briefly explained and discussed on their histories, structures, rules and also advantages and disadvantages. The old England & Wales Pool was a typical Pool type market which was one of the first successful electricity market deregulations but now had been replaced by the BETTA which is based on the bilateral and balancing mechanism. Nordic Pool and PJM are hybrid markets which combine both pool and bilateral principles. With maturing deregulated mechanism, transmission congestion becomes an urgent problem for all markets. Uniform marginal price, locational marginal price and zonal price are three typical methods in Pool and Hybrid market for congestion management. Locational marginal price is regarded as more efficient than other two when it comes to the market power dilution. In bilateral market, four transaction curtailments based on four rules: first come first serve, pro rata, minimum-net curtailment and price based are utilized to relieve congestion.

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“…On the other hand, congestion arising anywhere on a transmission grid necessarily results in the separation of LMPs at two or more bus locations [27]. Moreover, the day-ahead energy purchases of each LSE and the dayahead energy sales of each GenCo are settled each hour in accordance with the LMP determined at its own particular bus location.…”

Section: B Total Net Surplus and Market Efficiencymentioning

confidence: 99%

ISO Net Surplus Collection and Allocation in Wholesale Power Markets Under LMP

Tesfatsion

2011

IEEE Trans. Power Syst.

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Abstract-This study uses 5-bus and 30-bus test cases to explore ISO net surplus (congestion rent) collections and allocations in wholesale power markets with grid congestion managed by locational marginal prices (LMPs). Price-sensitivity of demand and generator learning capabilities are taken as experimental treatment factors. A key finding is that conditions resulting in greater generator capacity withholding, hence higher and more volatile LMPs, also result in greater ISO net surplus collections that can be substantial in size. A key conclusion is that ISO net surplus collections should be used pro-actively to mitigate the conditions encouraging generator capacity withholding and hence high and volatile LMPs rather than to provide ex post support for LMP payment offsets and LMP volatility risk hedging as is currently the norm.

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A general formulation for LMP evaluation

Cited by 24 publications

References 0 publications

HVDC line placement for maximizing social welfare — An analytical approach

HVDC line placement for maximizing social welfare — An analytical approach

Variously worldwide types of deregulated electricity markets and their respective transmission congestion management schemes

ISO Net Surplus Collection and Allocation in Wholesale Power Markets Under LMP

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A general formulation for LMP evaluation

Cited by 24 publications

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HVDC line placement for maximizing social welfare &#x2014; An analytical approach

HVDC line placement for maximizing social welfare &#x2014; An analytical approach

Variously worldwide types of deregulated electricity markets and their respective transmission congestion management schemes

ISO Net Surplus Collection and Allocation in Wholesale Power Markets Under LMP

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HVDC line placement for maximizing social welfare — An analytical approach

HVDC line placement for maximizing social welfare — An analytical approach