Social welfare maximisation of market based wind integrated power systems by simultaneous coordination of transmission switching and demand response programs

Abstract

The non-preventable ever-increasing rate of wind power generation in market-based power systems faces the operators with challenging situations for making optimal decisions. So, it is essential to equip the operators with applicable control strategies and further corresponding control facilities. Moreover, the high-priority of cheap wind power utilisation increases the probability of transmission lines congestion. Therefore, different solutions such as transmission switching (TS) and demand response (DR) programs have been recently introduced to manage the intermittent wind power generations. Accordingly, this study addresses the social welfare maximisation problem with coordinated control of TS and DR facilities to handle the regarding uncertainties using yet another linear matrix inequality parser (YALMIP). In fact, rapid algorithm and powerful employed solvers as well as simplicity of use, make YALMIP a practical modelling and optimisation toolbox. In this respect, the MOSEK solver is preferred by YALMIP to solve the proposed mixed integer linear programming problem. In addition, wind power uncertainty is modelled using the discrete-time Markov chain approach and optimisations are performed on the 8-bus and the large-scale IEEE 118-bus test systems. Results show that the proposed control strategy is highly capable of maximising social welfare by determining the optimal control commands in a real-time manner. P transition probability matrix

Strategic Investment in Transmission and Energy Storage in Electricity Markets

“…In the centralized market mechanism, central planners seek to maximize the social welfare and reduce the energy consumption cost for end-users [8]. Several articles have highlighted the importance of joint planning to minimize the total cost from the perspective of central planners [9].…”

Optimal scheduling of reconfigurable grids considering dynamic line rating constraint

“…This method, by considering switching in distribution and transmission feeders, begins to find an optimal power flow (OPF) for units, considering the grid limits. In [4], an optimal switching is used for contingency mitigation and the results showed that TS is a better use of the transmission grid with large-scale wind power. In [5], the potential of TS is explored as a way to accommodate a higher utilisation of wind power generators.…”

Joint Planning and Operation for Renewable- Storage Under Different Financial Incentives and Market Mechanisms

“…Maximizing social welfare is one of the most important economic features of market-based power systems. A maximization social welfare problem can be solved in a minimization form as the total cost [30].…”

“…We find that the same intensity of PTC policy has no significant incentive effect on WT and ESS investment. Although the PTC subsidy intensity has been from (0, 0, 0) to (30,10,5), the installed capacity of WT has only increased by 11 MW (form 33 MW to 44 MW), and the installed capacity of ESS has hardly increased, and the amount of wind energy utilization has only increased by 105 MWh (from 404 MWh to 509 MWh). The capital cost of WT and ESS is much higher than the production cost of TG, which makes it difficult for wind-storage coalition to profit from investment, and then the incentive effect of low-intensity PTC policy is limited.…”