DCOPF-Based LMP Simulation: Algorithm, Comparison With ACOPF, and Sensitivity

Li, Fangxing; Bo, Rui

doi:10.1109/tpwrs.2007.907924

Cited by 320 publications

(147 citation statements)

References 12 publications

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“…In the wholesale market, many ISOs nationwide implement the locational marginal pricing (LMP) strategy either in the form of ex ante LMP, for example New York ISO (NYISO), or ex post LMP, for example ISO-New England (ISO-NE), PJM and Midcontinent-ISO (MISO) [27]. Based on the fact that LMP has been widely adopted to compute electricity prices in the wholesale electricity market [28], some scholars have begun to downscale the LMP schema for distribution networks by proposing its counterpart, distribution locational marginal pricing (DLMP) [29], which can directly work for individual energy end-users without referring to a load serving entity (LSE) or other demand bidding aggregators. It has been applied to several scenarios, such as the congestion management problem and the electric vehicle charging problem [30].…”

Section: Dso With Distribution Level Pricingmentioning

confidence: 99%

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

et al. 2017

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Due to the rapidly-changing technologies in the power industry, many new references addressing the frameworks and business models of the next-generation retail electricity market are entering the research community. In particular, considering new customers with considerable demand response awareness and so-called prosumers with localized power generation based on distributed energy resources (DERs), the next-generation retail electricity market infrastructure will be a level playing field for local energy transactions, strategic pricing scheme design, new business model design and building an innovative energy ecosystem. Consequently, there is an urgent need to keep track of international experiences and activities taking place in the field of the market mechanism design problem at the distribution level. This paper provides a comprehensive survey of recent technology developments and aims to inspire awareness of the further deregulation of the electricity market, especially in areas close to customers. We mainly bring attention to the more than 90 articles published during the past five years. The collected literature has been divided into different sections to discuss different aspects of the next-generation retail electricity market under the deregulated power industry.

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Section: Dso With Distribution Level Pricingmentioning

confidence: 99%

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

et al. 2017

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“…However, DC optimal power flow (DCOPF) is also widely used for LMP calculation due to its efficiency and acceptable accuracy. The DCOPF is considered to be sufficient in many cases [17]. In this case, for the calculation of LMPs, the DCOPF is a suitable option, particularly considering the marginal congestion cost used for determining DTs and the large number of nodes on the distribution system.…”

Section: Determination Of Dtsmentioning

confidence: 99%

Day-ahead tariffs for the alleviation of distribution grid congestion from electric vehicles

O׳Connell

Østergaard

et al. 2012

Electric Power Systems Research

107

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An economically efficient day-ahead tariff (DT) is proposed with the purpose of preventing the distribution grid congestion resulting from electric vehicle (EV) charging scheduled on a dayahead basis. The DT concept developed herein is derived from the locational marginal price (LMP), in particular the congestion cost component of the LMP. A step-wise congestion management structure has been developed whereby the distribution system operator (DSO) predicts congestion for the coming day and publishes DTs prior to the clearing of the day-ahead market. EV fleet operators (FOs) optimize their EV charging schedules with respect to the predicted day-ahead prices and the published DTs, thereby avoiding congestion while still minimizing the charging cost. A Danish 400V distribution network is used to carry out case studies to illustrate the effectiveness of the developed concept for the prevention of distribution grid congestion from EV charging. The case study results show that the concept is successful in a number of situations, most notably a system over-load of 155% can be successfully alleviated on the test distribution network.

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“…Therefore, for more accurate LMP calculation, the fictitious nodal demand (FND) is included in the line flow equation as (Li and Bo, 2007) …”

Section: Market Clearing Model Using Dcopfmentioning

confidence: 99%

Optimal trading strategy for GenCo in LMP-based and bilateral markets using self-organising hierarchical PSO

Boonchua¹,

Ongsakul²,

Zhong³

et al. 2010

Int. J. Eng. Sci. Tech

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This paper proposes an optimal trading strategy for a generation company (GenCo) in multi-market environment including day-ahead spot and long term bilateral contract markets using self-organising hierarchical particle swarm optimisation with time-varying acceleration coefficients (SPSO-TVAC). The proposed trading strategy is formulated as a two-stage optimisation problem. Firstly, the GenCo's objective model which is to maximise expected profit and to minimise risk of profit variation is solved by SPSO-TVAC. Secondly, the market clearing model which is to minimise system cost of locational marginal price (LMP) based market is solved by DC optimal power flow (DCOPF). The Monte Carlo method is employed to simulate other bidders' behaviour in competitive environment. Test results on the PJM 5-bus system indicate that SPSO-TVAC is superior to inertia weight approach particle swarm optimisation (IWAPSO) and genetic algorithm (GA) in searching the optimal trading solution. In addition, different bilateral contract prices and spot demand significantly impact GenCos' trading behaviour. Accordingly, the proposed approach could be a beneficial decision-making tool for a GenCo in energy trading.

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DCOPF-Based LMP Simulation: Algorithm, Comparison With ACOPF, and Sensitivity

Cited by 320 publications

References 12 publications

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

The Next-Generation U.S. Retail Electricity Market with Customers and Prosumers—A Bibliographical Survey

Day-ahead tariffs for the alleviation of distribution grid congestion from electric vehicles

Optimal trading strategy for GenCo in LMP-based and bilateral markets using self-organising hierarchical PSO

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