Engineering › Electrical and Electronic Engineering

Electric Power System Optimization

Works Count: 49601

Wikipedia

Description

This cluster of papers focuses on the operation and optimization of electricity markets, with a particular emphasis on unit commitment, economic dispatch, renewable energy integration, market power, transmission expansion planning, stochastic optimization, wind power forecasting, ancillary services, electricity market reform, and price volatility.

Keywords

Unit Commitment; Economic Dispatch; Renewable Energy Integration; Market Power; Transmission Expansion Planning; Stochastic Optimization; Wind Power Forecasting; Ancillary Services; Electricity Market Reform; Price Volatility

The Construction of Utility Functions from Expenditure Data

1967-02-01

S. N. Afriat

View PDF Chat

An Economic Dispatch Model Incorporating Wind Power

2008-04-30

John Hetzer , David C. Yu , Kalu Bhattarai

<para xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> In solving the electrical power systems economic dispatch (ED) problem, the goal is to find the optimal allocation of output power among the various generators available to … <para xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> In solving the electrical power systems economic dispatch (ED) problem, the goal is to find the optimal allocation of output power among the various generators available to serve the system load. With the continuing search for alternatives to conventional energy sources, it is necessary to include wind energy conversion system (WECS) generators in the ED problem. This paper develops a model to include the WECS in the ED problem, and in addition to the classic economic dispatch factors, factors to account for both overestimation and underestimation of available wind power are included. With the stochastic wind speed characterization based on the Weibull probability density function, the optimization problem is numerically solved for a scenario involving two conventional and two wind-powered generators. Optimal solutions are presented for various values of the input parameters, and these solutions demonstrate that the allocation of system generation capacity may be influenced by multipliers related to the risk of overestimation and to the cost of underestimation of available wind power. </para>

Contract networks for electric power transmission

1992-09-01

William W. Hogan

Estimating the Spinning Reserve Requirements in Systems With Significant Wind Power Generation Penetration

2008-12-03

Miguel A. Ortega‐Vazquez , Daniel S. Kirschen

Spinning reserve (SR) allows system operators to compensate for unpredictable imbalances between load and generation caused by sudden outages of generating units, errors in load forecasting or unexpected deviations by … Spinning reserve (SR) allows system operators to compensate for unpredictable imbalances between load and generation caused by sudden outages of generating units, errors in load forecasting or unexpected deviations by generating units from their production schedules. As the proportion of power produced by wind farms increases, it becomes more difficult to predict accurately the total amount of power injected by all generators into the power system. This added uncertainty must be taken into account when setting the requirement for SR. This paper proposes a technique to calculate the optimal amount of SR that the system operator should provide to be able to respond not only to generation outages but also to errors in the forecasts for load and wind power production. Using a Monte Carlo simulation, the proposed technique for setting the SR requirements is then compared with the traditional deterministic criterion (i.e., the capacity of the largest online infeed), an approach to cope with wind imbalances and an approach that combines the traditional criterion with the approach to cope with wind imbalances. The results show that, contrary to what is commonly believed, an increased wind power penetration does not necessarily require larger amounts of SR.

The merit-order effect: A detailed analysis of the price effect of renewable electricity generation on spot market prices in Germany

2008-06-07

Frank Sensfuß , Mario Ragwitz , Massimo Genoese

View PDF Chat

Tracing the flow of electricity

1996-01-01

Janusz Białek

Continuing trend towards deregulation and unbundling of transmission services has resulted in the need to assess what the impact of a particular generator or load is on the power system. … Continuing trend towards deregulation and unbundling of transmission services has resulted in the need to assess what the impact of a particular generator or load is on the power system. A new method of tracing the flow of electricity in meshed electrical networks is proposed which may be applied to both real and reactive power flows. The method allows assessment of how much of the real and reactive power output from a particular station goes to a particular load. It also allows the assessment of contributions of individual generators (or loads) to individual line flows. A loss-apportioning algorithm has also been introduced which allows the break down of the total transmission loss into components to be allocated to individual loads or generators. The method can be useful in providing additional insight into power system operation and can be used to modify existing tariffs of charging for transmission loss, reactive power and transmission services.

An analysis of feed-in tariff remuneration models: Implications for renewable energy investment

2009-11-19

Toby Couture , Yves Gagnon

An Improved Particle Swarm Optimization for Nonconvex Economic Dispatch Problems

2009-10-03

Jong‐Bae Park , Yun-Won Jeong , Joong-Rin Shin +1 more

This paper presents an efficient approach for solving economic dispatch (ED) problems with nonconvex cost functions using an improved particle swarm optimization (IPSO). Although the particle swarm optimization (PSO) approaches … This paper presents an efficient approach for solving economic dispatch (ED) problems with nonconvex cost functions using an improved particle swarm optimization (IPSO). Although the particle swarm optimization (PSO) approaches have several advantages suitable to heavily constrained nonconvex optimization problems, they still can have the drawbacks such as local optimal trapping due to premature convergence (i.e., exploration problem), insufficient capability to find nearby extreme points (i.e., exploitation problem), and lack of efficient mechanism to treat the constraints (i.e., constraint handling problem). This paper proposes an improved PSO framework employing chaotic sequences combined with the conventional linearly decreasing inertia weights and adopting a crossover operation scheme to increase both exploration and exploitation capability of the PSO. In addition, an effective constraint handling framework is employed for considering equality and inequality constraints. The proposed IPSO is applied to three different nonconvex ED problems with valve-point effects, prohibited operating zones with ramp rate limits as well as transmission network losses, and multi-fuels with valve-point effects. Additionally, it is applied to the large-scale power system of Korea. Also, the results are compared with those of the state-of-the-art methods.

Architecture of Power Markets

2002-07-01

Robert Wilson

Liberalization of infrastructure industries presents classic economic issues about how organization and procedure affect market performance. These issues are examined in wholesale power markets. The perspective from game theory complements … Liberalization of infrastructure industries presents classic economic issues about how organization and procedure affect market performance. These issues are examined in wholesale power markets. The perspective from game theory complements standard economic theory to examine effects on efficiency and incentives.

Robust Unit Commitment With Wind Power and Pumped Storage Hydro

2011-11-03

Ruiwei Jiang , Jianhui Wang , Yongpei Guan

As renewable energy increasingly penetrates into power grid systems, new challenges arise for system operators to keep the systems reliable under uncertain circumstances, while ensuring high utilization of renewable energy. … As renewable energy increasingly penetrates into power grid systems, new challenges arise for system operators to keep the systems reliable under uncertain circumstances, while ensuring high utilization of renewable energy. With the naturally intermittent renewable energy, such as wind energy, playing more important roles, system robustness becomes a must. In this paper, we propose a robust optimization approach to accommodate wind output uncertainty, with the objective of providing a robust unit commitment schedule for the thermal generators in the day-ahead market that minimizes the total cost under the worst wind power output scenario. Robust optimization models the randomness using an uncertainty set which includes the worst-case scenario, and protects this scenario under the minimal increment of costs. In our approach, the power system will be more reliable because the worst-case scenario has been considered. In addition, we introduce a variable to control the conservatism of our model, by which we can avoid over-protection. By considering pumped-storage units, the total cost is reduced significantly.

Adaptive Robust Optimization for the Security Constrained Unit Commitment Problem

2012-07-24

Dimitris Bertsimas , Eugene Litvinov , Xu Andy Sun +2 more

Unit commitment, one of the most critical tasks in electric power system operations, faces new challenges as the supply and demand uncertainty increases dramatically due to the integration of variable … Unit commitment, one of the most critical tasks in electric power system operations, faces new challenges as the supply and demand uncertainty increases dramatically due to the integration of variable generation resources such as wind power and price responsive demand. To meet these challenges, we propose a two-stage adaptive robust unit commitment model for the security constrained unit commitment problem in the presence of nodal net injection uncertainty. Compared to the conventional stochastic programming approach, the proposed model is more practical in that it only requires a deterministic uncertainty set, rather than a hard-to-obtain probability distribution on the uncertain data. The unit commitment solutions of the proposed model are robust against all possible realizations of the modeled uncertainty. We develop a practical solution methodology based on a combination of Benders decomposition type algorithm and the outer approximation technique. We present an extensive numerical study on the real-world large scale power system operated by the ISO New England. Computational results demonstrate the economic and operational advantages of our model over the traditional reserve adjustment approach.

View PDF Chat

Measuring Duopoly Power in the British Electricity Spot Market

1999-09-01

Catherine Wolfram

This article presents an empirical study of market power in the British electricity industry. Estimates of price-cost markups are derived using direct measures of marginal cost and several approaches that … This article presents an empirical study of market power in the British electricity industry. Estimates of price-cost markups are derived using direct measures of marginal cost and several approaches that do not rely on cost data. Since two suppliers facing inelastic demand dominate the industry, most oligopoly models predict prices substantially above marginal costs. All estimates indicate that prices, while higher than marginal costs, are not nearly as high as most theoretical models predict. Regulatory constraints, the threat of entry, and financial contracts between the suppliers and their customers are considered as possible explanations for the observed price levels. (JEL L13, L94)

Competition in the British Electricity Spot Market

1992-10-01

Richard Green , David Newbery

Most of the British electricity supply industry has been privatized. Two dominant generators supply bulk electricity to an unregulated "pool." They submit a supply schedule of prices for generation and … Most of the British electricity supply industry has been privatized. Two dominant generators supply bulk electricity to an unregulated "pool." They submit a supply schedule of prices for generation and receive the market-clearing price, which varies with demand. Despite claims that this should be highly competitive, we show that the Nash equilibrium in supply schedules implies a high markup on marginal cost and substantial deadweight losses. Further simulations, to show the effect of entry by 1994, produce somewhat lower prices, at the cost of excessive entry; subdividing the generators into five firms would produce better results.

Electricity market modeling trends

2003-12-04

Mariano Ventosa , Á. Baíllo , Andrés Ramos +1 more

Unit Commitment for Systems With Significant Wind Penetration

2009-03-30

Aidan Tuohy , Peter Meibom , Eleanor Denny +1 more

The stochastic nature of wind alters the unit commitment and dispatch problem. By accounting for this uncertainty when scheduling the system, more robust schedules are produced, which should, on average, … The stochastic nature of wind alters the unit commitment and dispatch problem. By accounting for this uncertainty when scheduling the system, more robust schedules are produced, which should, on average, reduce expected costs. In this paper, the effects of stochastic wind and load on the unit commitment and dispatch of power systems with high levels of wind power are examined. By comparing the costs, planned operation and performance of the schedules produced, it is shown that stochastic optimization results in less costly, of the order of 0.25%, and better performing schedules than deterministic optimization. The impact of planning the system more frequently to account for updated wind and load forecasts is then examined. More frequent planning means more up to date forecasts are used, which reduces the need for reserve and increases performance of the schedules. It is shown that mid-merit and peaking units and the interconnection are the most affected parts of the system where uncertainty of wind is concerned.

View PDF Chat

A Particle Swarm Optimization for Economic Dispatch With Nonsmooth Cost Functions

2005-01-31

J.-B. Park , Kwang‐Sik Lee , Joong-Rin Shin +1 more

This work presents a new approach to economic dispatch (ED) problems with nonsmooth cost functions using a particle swarm optimization (PSO) technique. The practical ED problems have nonsmooth cost functions … This work presents a new approach to economic dispatch (ED) problems with nonsmooth cost functions using a particle swarm optimization (PSO) technique. The practical ED problems have nonsmooth cost functions with equality and inequality constraints that make the problem of finding the global optimum difficult using any mathematical approaches. A modified PSO (MPSO) mechanism is suggested to deal with the equality and inequality constraints in the ED problems. A constraint treatment mechanism is devised in such a way that the dynamic process inherent in the conventional PSO is preserved. Moreover, a dynamic search-space reduction strategy is devised to accelerate the optimization process. To show its efficiency and effectiveness, the proposed MPSO is applied to test ED problems, one with smooth cost functions and others with nonsmooth cost functions considering valve-point effects and multi-fuel problems. The results of the MPSO are compared with the results of conventional numerical methods, Tabu search method, evolutionary programming approaches, genetic algorithm, and modified Hopfield neural network approaches.

Transmission management in the deregulated environment

2000-02-01

R.D. Christie , B.F. Wollenberg , I. Wangensteen

Three very different methods of accomplishing the same task-managing the operation of the transmission system in the deregulated power system operating environment-have been implemented as deregulated market structures have been … Three very different methods of accomplishing the same task-managing the operation of the transmission system in the deregulated power system operating environment-have been implemented as deregulated market structures have been created around the world. They are first, the optimal power flow (OPF) model found in various implementations in the United Kingdom, parts of the United States, and in Australia and New Zealand. Second, the point tariff, price area congestion control model used in the Nordpool market area in Norway and Sweden. Third, the US transaction-based model. All are pragmatic solutions implemented in advance of complete theoretical understanding. Each has strengths and flaws, and there are some surprising inter-relationships. Each maintains power system security but differs in its impact on the economics of the energy market. No clearly superior method has so far emerged. In the future, methods of combining decentralized market solutions with operational use of optimal power flow may provide better solutions to existing and emerging problems.

A New Approach to Quantify Reserve Demand in Systems With Significant Installed Wind Capacity

2005-05-01

R. E. Doherty , Mark O’Malley

With wind power capacities increasing in many electricity systems across the world, operators are faced with new problems related to the uncertain nature of wind power. Foremost of these is … With wind power capacities increasing in many electricity systems across the world, operators are faced with new problems related to the uncertain nature of wind power. Foremost of these is the quantification and provision of system reserve. In this paper a new methodology is presented which quantifies the reserve needed on a system taking into account the uncertain nature of the wind power. Generator outage rates and load and wind power forecasts are taken into consideration when quantifying the amount of reserve needed. The reliability of the system is used as an objective measure to determine the effect of increasing wind power penetration. The methodology is applied to a model of the all Ireland electricity system, and results show that as wind power capacity increases, the system must increase the amount of reserve carried or face a measurable decrease in reliability.

A Computationally Efficient Mixed-Integer Linear Formulation for the Thermal Unit Commitment Problem

2006-08-01

Miguel Carrión , José M. Arroyo

This paper presents a new mixed-integer linear formulation for the unit commitment problem of thermal units. The formulation proposed requires fewer binary variables and constraints than previously reported models, yielding … This paper presents a new mixed-integer linear formulation for the unit commitment problem of thermal units. The formulation proposed requires fewer binary variables and constraints than previously reported models, yielding a significant computational saving. Furthermore, the modeling framework provided by the new formulation allows including a precise description of time-dependent startup costs and intertemporal constraints such as ramping limits and minimum up and down times. A commercially available mixed-integer linear programming algorithm has been applied to efficiently solve the unit commitment problem for practical large-scale cases. Simulation results back these conclusions

A review of recent advances in economic dispatch

1990-01-01

Badrul Chowdhury , Saifur Rahman

A survey is presented of papers and reports that address various aspects of economic dispatch. The time period considered is 1977-88. Four related areas of economic dispatch are identified and … A survey is presented of papers and reports that address various aspects of economic dispatch. The time period considered is 1977-88. Four related areas of economic dispatch are identified and papers published in the general areas of economic dispatch are classified into these. These areas are: optimal power flow, economic dispatch in relation to AGC, dynamic dispatch, and economic dispatch with nonconventional generation sources.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">></ETX>

Decision Making Under Uncertainty in Electricity Markets

2010-01-01

Antonio J. Conejo , Miguel Héctor Fernández Carrión , Juan M. Morales

View PDF Chat

Stochastic Joint Optimization of Wind Generation and Pumped-Storage Units in an Electricity Market

2008-04-28

Javier García‐González , RocÍo Moraga Ruiz de la Muela , Luz Matres Santos +1 more

One of the main characteristics of wind power is the inherent variability and unpredictability of the generation source, even in the short-term. To cope with this drawback, hydro pumped-storage units … One of the main characteristics of wind power is the inherent variability and unpredictability of the generation source, even in the short-term. To cope with this drawback, hydro pumped-storage units have been proposed in the literature as a good complement to wind generation due to their ability to manage positive and negative energy imbalances over time. This paper investigates the combined optimization of a wind farm and a pumped-storage facility from the point of view of a generation company in a market environment. The optimization model is formulated as a two-stage stochastic programming problem with two random parameters: market prices and wind generation. The optimal bids for the day-ahead spot market are the ldquohere and nowrdquo decisions while the optimal operation of the facilities are the recourse variables. A joint configuration is modeled and compared with an uncoordinated operation. A realistic example case is presented where the developed models are tested with satisfactory results.

A New Particle Swarm Optimization Solution to Nonconvex Economic Dispatch Problems

2007-02-01

A. Immanuel Selvakumar , K. Thanushkodi

This paper proposes a new version of the classical particle swarm optimization (PSO), namely, new PSO (NPSO), to solve nonconvex economic dispatch problems. In the classical PSO, the movement of … This paper proposes a new version of the classical particle swarm optimization (PSO), namely, new PSO (NPSO), to solve nonconvex economic dispatch problems. In the classical PSO, the movement of a particle is governed by three behaviors, namely, inertial, cognitive, and social. The cognitive behavior helps the particle to remember its previously visited best position. This paper proposes a split-up in the cognitive behavior. That is, the particle is made to remember its worst position also. This modification helps to explore the search space very effectively. In order to well exploit the promising solution region, a simple local random search (LRS) procedure is integrated with NPSO. The resultant NPSO-LRS algorithm is very effective in solving the nonconvex economic dispatch problems. To validate the proposed NPSO-LRS method, it is applied to three test systems having nonconvex solution spaces, and better results are obtained when compared with previous approaches

Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market

2002-11-01

Severin Borenstein , James Bushnell , Frank A. Wolak

We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. Using data from June 1998 to … We present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power. Using data from June 1998 to October 2000 in California, we find significant departures from competitive pricing during the high-demand summer months and near-competitive pricing during the lower-demand months of the first two years. In summer 2000, wholesale electricity expenditures were $8.98 billion up from $2.04 billion in summer 1999. We find that 21 percent of this increase was due to production costs, 20 percent to competitive rents, and 59 percent to market power.

View PDF Chat

Demand-side view of electricity markets

2003-05-01

Daniel S. Kirschen

This tutorial paper discusses some aspects of electricity markets from the perspective of the demand-side. It argues that increasing the short-run price elasticity of the demand for electrical energy would … This tutorial paper discusses some aspects of electricity markets from the perspective of the demand-side. It argues that increasing the short-run price elasticity of the demand for electrical energy would improve the operation of these markets. It shows, however, that enhancing this elasticity is not an easy task. The tools that consumers and retailers of electrical energy need to participate more actively and effectively in electricity markets are discussed. The paper also describes how consumers of electricity can take part in the provision of power system security.

Multiobjective evolutionary algorithms for electric power dispatch problem

2006-06-01

M. A. Abido

The potential and effectiveness of the newly developed Pareto-based multiobjective evolutionary algorithms (MOEA) for solving a real-world power system multiobjective nonlinear optimization problem are comprehensively discussed and evaluated in this … The potential and effectiveness of the newly developed Pareto-based multiobjective evolutionary algorithms (MOEA) for solving a real-world power system multiobjective nonlinear optimization problem are comprehensively discussed and evaluated in this paper. Specifically, nondominated sorting genetic algorithm, niched Pareto genetic algorithm, and strength Pareto evolutionary algorithm (SPEA) have been developed and successfully applied to an environmental/economic electric power dispatch problem. A new procedure for quality measure is proposed in this paper in order to evaluate different techniques. A feasibility check procedure has been developed and superimposed on MOEA to restrict the search to the feasible region of the problem space. A hierarchical clustering algorithm is also imposed to provide the power system operator with a representative and manageable Pareto-optimal set. Moreover, an approach based on fuzzy set theory is developed to extract one of the Pareto-optimal solutions as the best compromise one. These multiobjective evolutionary algorithms have been individually examined and applied to the standard IEEE 30-bus six-generator test system. Several optimization runs have been carried out on different cases of problem complexity. The results of MOEA have been compared to those reported in the literature. The results confirm the potential and effectiveness of MOEA compared to the traditional multiobjective optimization techniques. In addition, the results demonstrate the superiority of the SPEA as a promising multiobjective evolutionary algorithm to solve different power system multiobjective optimization problems.

Multi-Agent Systems for Power Engineering Applications—Part I: Concepts, Approaches, and Technical Challenges

2007-11-01

S.D.J. McArthur , E.M. Davidson , Victoria M. Catterson +4 more

This is the first part of a two-part paper that has arisen from the work of the IEEE Power Engineering Society's Multi-Agent Systems (MAS) Working Group. Part I of this … This is the first part of a two-part paper that has arisen from the work of the IEEE Power Engineering Society's Multi-Agent Systems (MAS) Working Group. Part I of this paper examines the potential value of MAS technology to the power industry. In terms of contribution, it describes fundamental concepts and approaches within the field of multi-agent systems that are appropriate to power engineering applications. As well as presenting a comprehensive review of the meaningful power engineering applications for which MAS are being investigated, it also defines the technical issues which must be addressed in order to accelerate and facilitate the uptake of the technology within the power and energy sector. Part II of this paper explores the decisions inherent in engineering multi-agent systems for applications in the power and energy sector and offers guidance and recommendations on how MAS can be designed and implemented.

View PDF Chat

Stochastic Security for Operations Planning With Significant Wind Power Generation

2008-04-28

François Bouffard , F.D. Galiana

In their attempt to cut down on greenhouse gas emissions from electricity generation, several countries are committed to install wind power generation up to and beyond the 10%-20% penetration mark. … In their attempt to cut down on greenhouse gas emissions from electricity generation, several countries are committed to install wind power generation up to and beyond the 10%-20% penetration mark. However, the large-scale integration of wind power represents a challenge for power system operations planning because wind power 1) cannot be dispatched in the classical sense; and 2) its output varies as weather conditions change. This warrants the investigation of alternative short-term power system operations planning methods capable of better coping with the nature of wind generation while maintaining or even improving the current reliability and economic performance of power systems. To this end, this paper formulates a short-term forward electricity market-clearing problem with stochastic security capable of accounting for nondispatchable and variable wind power generation sources. The principal benefit of this stochastic operation planning approach is that, when compared to a deterministic worst-case scenario planning philosophy, it allows greater wind power penetration without sacrificing security.

Improved Genetic Algorithm for Power Economic Dispatch of Units With Valve-Point Effects and Multiple Fuels

2005-11-01

C.-L. Chiang

This paper presents an improved genetic algorithm with multiplier updating (IGA/spl I.bar/MU) to solve power economic dispatch (PED) problems of units with valve-point effects and multiple fuels. The proposed IGA/spl … This paper presents an improved genetic algorithm with multiplier updating (IGA/spl I.bar/MU) to solve power economic dispatch (PED) problems of units with valve-point effects and multiple fuels. The proposed IGA/spl I.bar/MU integrates the improved genetic algorithm (IGA) and the multiplier updating (MU). The IGA equipped with an improved evolutionary direction operator and a migration operation can efficiently search and actively explore solutions, and the MU is employed to handle the equality and inequality constraints of the PED problem. Few PED problem-related studies have seldom addressed both valve-point loadings and change fuels. To show the advantages of the proposed algorithm, which was applied to test PED problems with one example considering valve-point effects, one example considering multiple fuels, and one example addressing both valve-point effects and multiple fuels. Additionally, the proposed algorithm was compared with previous methods and the conventional genetic algorithm (CGA) with the MU (CGA/spl I.bar/MU), revealing that the proposed IGA/spl I.bar/MU is more effective than previous approaches, and applies the realistic PED problem more efficiently than does the CGA/spl I.bar/MU. Especially, the proposed algorithm is highly promising for the large-scale system of the actual PED operation.

Security-Constrained Unit Commitment With Volatile Wind Power Generation

2008-08-01

Jianhui Wang , Mohammad Shahidehpour , Zuyi Li

<para xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> This paper presents a security-constrained unit commitment (SCUC) algorithm which takes into account the intermittency and volatility of wind power generation. The UC problem is solved in … <para xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink"> This paper presents a security-constrained unit commitment (SCUC) algorithm which takes into account the intermittency and volatility of wind power generation. The UC problem is solved in the master problem with the forecasted intermittent wind power generation. Next, possible scenarios are simulated for representing the wind power volatility. The initial dispatch is checked in the subproblem and generation redispatch is considered for satisfying the hourly volatility of wind power in simulated scenarios. If the redispatch fails to mitigate violations, Benders cuts are created and added to the master problem to revise the commitment solution. The iterative process between the commitment problem and the feasibility check subproblem will continue until simulated wind power scenarios can be accommodated by redispatch. Numerical simulations indicate the effectiveness of the proposed SCUC algorithm for managing the security of power system operation by taking into account the intermittency and volatility of wind power generation. </para>

Particle swarm optimization to solving the economic dispatch considering the generator constraints

2003-07-29

Z.-L. Gaing

This paper proposes a particle swarm optimization (PSO) method for solving the economic dispatch (ED) problem in power systems. Many nonlinear characteristics of the generator, such as ramp rate limits, … This paper proposes a particle swarm optimization (PSO) method for solving the economic dispatch (ED) problem in power systems. Many nonlinear characteristics of the generator, such as ramp rate limits, prohibited operating zone, and nonsmooth cost functions are considered using the proposed method in practical generator operation. The feasibility of the proposed method is demonstrated for three different systems, and it is compared with the GA method in terms of the solution quality and computation efficiency. The experimental results show that the proposed PSO method was indeed capable of obtaining higher quality solutions efficiently in ED problems.

View PDF Chat

Contributions of individual generators to loads and flows

1997-01-01

Daniel S. Kirschen , R. S. Allan , Goran Štrbac

Because of the introduction of competition in the electricity supply industry, it has become much more important to be able to determine which generators are supplying a particular load, how … Because of the introduction of competition in the electricity supply industry, it has become much more important to be able to determine which generators are supplying a particular load, how much use each generator is making of a transmission line and what is each generator's contribution to the system losses. This paper describes a technique for answering these questions which is not limited to incremental changes and which is applicable to both active and reactive power. Starting from a power flow solution, the technique first identifies the busses which are reached by power produced by each generator. Then it determines the sets of buses supplied by the same generators. Using proportionality assumption, it is then possible to calculate the contribution of each generator to the loads and flows. The applicability of the proposed technique is demonstrated using a 30-bus example.

Stochastic Security-Constrained Unit Commitment

2007-05-01

Lei Wu , Mohammad Shahidehpour , Tao Li

This paper presents a stochastic model for the long-term solution of security-constrained unit commitment (SCUC). The proposed approach could be used by vertically integrated utilities as well as the ISOs … This paper presents a stochastic model for the long-term solution of security-constrained unit commitment (SCUC). The proposed approach could be used by vertically integrated utilities as well as the ISOs in electricity markets. In this model, random disturbances, such as outages of generation units and transmission lines as well as load forecasting inaccuracies, are modeled as scenario trees using the Monte Carlo simulation method. For dual optimization, coupling constraints among scenarios are relaxed and the optimization problem is decomposed into deterministic long-term SCUC subproblems. For each deterministic long-term SCUC, resource constraints represent fuel and emission constraints (in the case of vertically integrated utilities) and energy constraints (in the case of electricity markets). Lagrangian relaxation is used to decompose subproblems with long-term SCUC into tractable short-term MIP-based SCUC subproblems without resource constraints. Accordingly, penalty prices (Lagrangian multipliers) are signals to coordinate the master problem and small-scale subproblems. Computational requirements for solving scenario-based optimization models depend on the number of scenarios in which the objective is to minimize the weighted-average generation cost over the entire scenario tree. In large scale applications, the scenario reduction method is introduced for enhancing a tradeoff between calculation speed and accuracy of long-term SCUC solution. Numerical simulations indicate the effectiveness of the proposed approach for solving the stochastic security-constrained unit commitment

Unit Commitment—A Bibliographical Survey

2004-05-01

Narayana Prasad Padhy

With the fast-paced changing technologies in the power industry, new power references addressing new technologies are coming to the market. So there is an urgent need to keep track of … With the fast-paced changing technologies in the power industry, new power references addressing new technologies are coming to the market. So there is an urgent need to keep track of international experiences and activities taking place in the field of modern unit-commitment (UC) problem. This paper gives a bibliographical survey, mathematical formulations, and general backgrounds of research and developments in the field of UC problem for past 35 years based on more than 150 published articles. The collected literature has been divided into many sections, so that new researchers do not face any difficulty in carrying out research in the area of next-generation UC problem under both the regulated and deregulated power industry.

Classification of publications and models on transmission expansion planning

2003-05-01

Guillermo Latorre , Roger David De la Cruz , J.M. Areiza +1 more

In this paper, the transmission planning state-of-the-art, which was obtained from the review of the most interesting models found in the international technical literature, is presented. The classification of publications … In this paper, the transmission planning state-of-the-art, which was obtained from the review of the most interesting models found in the international technical literature, is presented. The classification of publications was made, keeping in mind the solution methods, the treatment of the planning horizon, and the consideration of the new competitive schemes in the power sector. A discussion about the available tools for development of transmission planning models is also included.

Combining of chaotic differential evolution and quadratic programming for economic dispatch optimization with valve-point effect

2006-05-01

Ld.S. Coelho , Viviana Cocco Mariani

Evolutionary algorithms are heuristic methods that have yielded promising results for solving nonlinear, nondifferentiable, and multi-modal optimization problems in the power systems area. The differential evolution (DE) algorithm is an … Evolutionary algorithms are heuristic methods that have yielded promising results for solving nonlinear, nondifferentiable, and multi-modal optimization problems in the power systems area. The differential evolution (DE) algorithm is an evolutionary algorithm that uses a rather greedy and less stochastic approach to problem solving than do classical evolutionary algorithms, such as genetic algorithms, evolutionary programming, and evolution strategies. DE also incorporates an efficient way of self-adapting mutation using small populations. The potentialities of DE are its simple structure, easy use, convergence property, quality of solution, and robustness. This paper proposes a new approach for solving economic load dispatch problems with valve-point effect. The proposed method combines the DE algorithm with the generator of chaos sequences and sequential quadratic programming (SQP) technique to optimize the performance of economic dispatch problems. The DE with chaos sequences is the global optimizer, and the SQP is used to fine-tune the DE run in a sequential manner. The combined methodology and its variants are validated for two test systems consisting of 13 and 40 thermal units whose incremental fuel cost function takes into account the valve-point loading effects. The proposed combined method outperforms other state-of-the-art algorithms in solving load dispatch problems with the valve-point effect.

Strategic gaming analysis for electric power systems: an MPEC approach

2000-05-01

Benjamin F. Hobbs , Carolyn Burr Metzler , Jong‐Shi Pang

Transmission constraints and market concentration may prevent power markets from being fully competitive, allowing firms to exercise market power and raise prices above marginal cost. We present a strategic gaming … Transmission constraints and market concentration may prevent power markets from being fully competitive, allowing firms to exercise market power and raise prices above marginal cost. We present a strategic gaming model for analyzing such markets; it represents an oligopolistic market economy consisting of several dominant firms in an electric power network. Each generating firm submits bids to an ISO, choosing its bids to maximize profits subject to anticipated reactions by rival firms. The single-firm model is formulated as a mathematical program with equilibrium constraints (MPEC) with a parameter-dependent spatial price equilibrium problem as the inner problem. Power flows and pricing strategies are constrained by the ISO's linearized DC optimal power flow (OFF) model. A penalty interior point algorithm is used to compute a local optimal solution of the MPEC. Numerical examples based on a 30 bus network are presented, including multi-firm Nash equilibria in which each player solves an MPEC of the single-firm type.

Firefly Algorithm for solving non-convex economic dispatch problems with valve loading effect

2011-11-18

Xin‐She Yang , Seyyed Soheil Sadat Hosseini , Amir H. Gandomi

DC Power Flow Revisited

2009-05-27

B. Stott , Jorge L. Jardim , O. Alsaç

Linear MW-only ldquodcrdquo network power flow models are in widespread and even increasing use, particularly in congestion-constrained market applications. Many versions of these approximate models are possible. When their MW … Linear MW-only ldquodcrdquo network power flow models are in widespread and even increasing use, particularly in congestion-constrained market applications. Many versions of these approximate models are possible. When their MW flows are reasonably correct (and this is by no means assured), they can often offer compelling advantages. Given their considerable importance in today's electric power industry, dc models merit closer scrutiny. This paper attempts such a re-examination.

Power System Economics

2002-01-01

Steven Stoft

Decision making under uncertainty in electricity markets

2006-01-01

Luiz Barroso , Antonio J. Conejo

This paper considers stochastic programming models for decision-making under uncertainty in the context of electricity markets. It provides a brief overview of modeling and solution techniques within a mathematical programming … This paper considers stochastic programming models for decision-making under uncertainty in the context of electricity markets. It provides a brief overview of modeling and solution techniques within a mathematical programming framework. Tutorial as well as recent references are provided. This paper provides the guidelines for discussion in a panel session organized by the authors on "Decision Making under Uncertainty in Electricity Markets", scheduled for the IEEE PES 2006 General Meeting

View PDF Chat

Equilibrium Pricing and Optimal Hedging in Electricity Forward Markets

2002-06-01

Hendrik Bessembinder , Michael L. Lemmon

ABSTRACT Spot power prices are volatile and since electricity cannot be economically stored, familiar arbitrage‐based methods are not applicable for pricing power derivative contracts. This paper presents an equilibrium model … ABSTRACT Spot power prices are volatile and since electricity cannot be economically stored, familiar arbitrage‐based methods are not applicable for pricing power derivative contracts. This paper presents an equilibrium model implying that the forward power price is a downward biased predictor of the future spot price if expected power demand is low and demand risk is moderate. However, the equilibrium forward premium increases when either expected demand or demand variance is high, because of positive skewness in the spot power price distribution. Preliminary empirical evidence indicates that the premium in forward power prices is greatest during the summer months.

The market value of variable renewables

2013-02-19

Lion Hirth

View PDF Chat

Market operations in electric power systems: forecasting, scheduling, and risk management

2002-11-01

Mohammad Shahidehpour , Zuyi Li , H.Y. Yamin

Preface. Chapter 1: Market Overview in Electric Power Systems. Chapter 2: Short-Term Load Forecasting. Chapter 3: Electricity Price Forecasting. Chapter 4: Price-Based Unit Commitment. Chapter 5: Arbitrage in Electricity Markets. … Preface. Chapter 1: Market Overview in Electric Power Systems. Chapter 2: Short-Term Load Forecasting. Chapter 3: Electricity Price Forecasting. Chapter 4: Price-Based Unit Commitment. Chapter 5: Arbitrage in Electricity Markets. Chapter 6: Market Power Analysis Based on Game Theory. Chapter 7: Generation Asset Valuation and Risk Analysis. Chapter 8: Security-Constrained Unit Commitment. Chapter 9: Ancillary Services Auction Market Design. Chapter 10: Transmission Congestion Management and Pricing. Appendix A: List of Symbols. Appendix B: Mathematical Derivation. Appendix C: RTS Load Data. Appendix D: Example Systems Data. Appendix E: Game Theory Concepts. Appendix F: Congestion Charges Calculation. References. Index.

The Impact of Electricity Consumption and Economic Growth on the Electricity Lost in the Transmission and Distribution Processes in ASEAN

2025-06-25

Sakkarin Nonthapot , Thanomsilp Jankanakittikul , Tanawat Watchalaanun | International Journal of Energy Economics and Policy

Electrical energy is one of the most important elements in human daily life. However, the amount of electricity production is limited. Therefore, the efficient use of electricity is one of … Electrical energy is one of the most important elements in human daily life. However, the amount of electricity production is limited. Therefore, the efficient use of electricity is one of the issues that needs to be considered, especially the loss of electricity from the distribution of energy to consumers. This study aims to compare the impact of electricity consumption and economic growth on electricity loss in the energy distribution process between countries located on the continent and islands of ASEAN member countries, which are 9 countries with the exception of Myanmar. This study employs data from 1990 to 2022 with Panel Autoregressive Distribution Lag (Panel ARDL). The results of the study show that in the long term, electricity consumption is a factor that triggers energy loss, both in continental and island countries. In addition, economic growth can only help to reduce energy loss by considering the overall picture and the island countries. In the Continental countries, electric power distribution systems should be developed continuously. While island countries, which may employ policies to stimulate the economy so that the public and private sectors generate enough income to develop an energy distribution system to better reduce losses from distribution.

A novel metaheuristic optimizer GPSed via artificial intelligence for reliable economic dispatch

2025-06-23

Mahmoud Ibrahim Mohamed , Ali M. Yousef , Ahmed A. Hafez | Scientific Reports

The forward market dilemma in energy-only electricity markets

2025-06-21

Jonty Flottmann , Paul Simshauser , Phillip Wild +1 more | Energy Economics

The Capacity Configuration of a Cascade Small Hydropower-Pumped Storage–Wind–PV Complementary System

2025-06-20

Bin Li , Shan Lu , Jianing Zhao +1 more | Applied Sciences

Distributed renewable energy sources with significant output fluctuations can negatively impact the power grid stability when it is connected to the power grid. Therefore, it is necessary to develop a … Distributed renewable energy sources with significant output fluctuations can negatively impact the power grid stability when it is connected to the power grid. Therefore, it is necessary to develop a capacity configuration method that improves the output stability of highly uncertain energy sources such as wind and photovoltaic (PV) power by integrating pumped storage units. In response, this study proposes a capacity configuration method for a cascade small hydropower-pumped storage–wind–PV complementary system. The method utilizes the regulation capacity of cascade small hydropower plants and pumped storage units, in conjunction with the fluctuating characteristics of local distributed wind and PV, to perform power and energy time-series matching and determine the optimal capacity allocation for each type of renewable energy. Furthermore, an optimization and scheduling model for the cascade small hydropower-pumped storage–wind–PV complementary system is constructed to verify the effectiveness of the configuration under multiple scenarios. The results demonstrate that the proposed method reduces system energy deviation, improves the stability of power output and generation efficiency, and enhances the operational stability and economic performance of the system.

ENERGETIKA OBYEKTLARINI QOZON AGREGATLARINING ISH REJIMLARINI OPTIMAL BOSHQARISH TIZIMLARINI SINTEZI

2025-06-20

Muzaffarjon Sobirov , Gʻayratjon Abdijabborov | Techscience.uz.

ushbu maqolada energetika obyektlarida qozon agregatlarning ish rejimlarini optimal boshqarish tizimlarini sintezi tahlil qilinadi. Energetika tizimlarining samaradorligini oshirish, energiya isteʼmolini kamaytirish va atrof-muhitga taʼsirni minimallashtirish maqsadida, qozon agregatlarning ish rejimlari … ushbu maqolada energetika obyektlarida qozon agregatlarning ish rejimlarini optimal boshqarish tizimlarini sintezi tahlil qilinadi. Energetika tizimlarining samaradorligini oshirish, energiya isteʼmolini kamaytirish va atrof-muhitga taʼsirni minimallashtirish maqsadida, qozon agregatlarning ish rejimlari va boshqarish usullari tahlil qilinadi. Maqolada zamonaviy boshqaruv strategiyalari, masofadan boshqaruv texnologiyalari hamda sunʼiy intellekt uslublaridan foydalanish imkoniyatlari koʻrib chiqiladi.

Enhancing unit commitment in power systems with transmission loss analysis

2025-06-20

Vineet Kumar , Ram Naresh , Vineet Kumar +2 more | Neural Computing and Applications

A cumulative capital approach for dynamic transmission expansion planning: enhancing cost efficiency and grid development

2025-06-19

Salman Habib | Expert Systems with Applications

Market share, plant ownership, and the merit-order effect of renewable resources: Evidence from Australia’s National Electricity Market

2025-06-19

Clinton J. Levitt , S M LOVELL | Utilities Policy

An augmented multi-objective multi-verse optimizer algorithm for solving dynamic economic emission dispatch problems

2025-06-19

H. F. Tian , Yingjie Song | The Journal of Supercomputing

Welfare compensation in international transmission expansion planning under uncertainty

2025-06-19

E. Ruben van Beesten , Ole Kristian Ådnanes , Håkon Morken Linde +2 more | Energy

View PDF Chat

Regulation of access, fees and investment planning of transmission in Great Britain

2025-06-19

David Newbery | Edward Elgar Publishing eBooks

How can regulated electricity network companies promote innovation? Lessons from the field of practice

2025-06-19

Leonardo Meeus , Nicolò Rossetto | Edward Elgar Publishing eBooks

The regulation of electricity networks in Australias National Electricity Market: user charges, investment and access

2025-06-19

Paul Simshauser | Edward Elgar Publishing eBooks

Regulation of access, pricing, and planning of high-voltage transmission in the US

2025-06-19

Joe DeLosa , Johannes P. Pfeifenberger , Paul L. Joskow | Edward Elgar Publishing eBooks

Optimization of Bidding Mode for Capacity Market Considering The Participation of New Energy

2025-06-18

Qinchen Yang , Man Jin , Anbang Xie +2 more | Scientific journal of economics and management research.

One of the construction purposes of the capacity market is to solve the problem of fixed cost recovery of power sources in the pure energy market based on variable cost … One of the construction purposes of the capacity market is to solve the problem of fixed cost recovery of power sources in the pure energy market based on variable cost bidding. With the continuous deepening of the construction of new power systems, more new energy entities will participate in providing capacity resources. If the capacity market lacks consideration for the differences in power cost structure, it will be difficult to meet the different cost recovery demands of various power sources, which will affect the accurate generation of investment incentive signals. This article analyzes the capacity market construction problem under the current differentiated power supply cost structure, proposes a capacity market mechanism design scheme for differentiated power supply cost structure, and verifies it through numerical examples.

Are better combinations of DERs more profitable?: Combinatorial optimization for aggregation of DERs in wholesale electricity markets

2025-06-17

Eo Jin Choi , Gab‐Su Seo , Seung Wan Kim | Applied Energy

On the relevance of considering the uncertainty in renewables production forecasts to optimize hybrid power stations: a robust MILP approach

2025-06-16

Francesco Superchi , Antonis Moustakis , George Pechlivanoglou +1 more | Energy Conversion and Management

Supply–demand price decoupling in European-type day-ahead electricity markets

2025-06-16

Anita Varga , Botond Feczkó , Marianna E.-Nagy +1 more | International Journal of Electrical Power & Energy Systems

A global optimization framework for joint generation and transmission expansion planning with AC power flow representation

2025-06-14

Ghazaleh Mozafari , Mahdi Mehrtash , Yankai Cao +1 more | Renewable energy focus

Optimal Management of High-Voltage Line Congestions Using Power Source Redispatching

2025-06-11

Paweł Pijarski , Adrian Belowski , Ľubomír Beňa +2 more | Applied Sciences

The increasing integration of renewable energy sources (RESs) reduces dependence on conventional generators, thereby minimizing the negative environmental impact of fossil fuels. The distributed location of RESs also affects the … The increasing integration of renewable energy sources (RESs) reduces dependence on conventional generators, thereby minimizing the negative environmental impact of fossil fuels. The distributed location of RESs also affects the voltage profiles (voltage values in network nodes) and reduces power losses. The growing number of RESs connected to the network increases the total installed power in the sources in the power system. This contributes to the periodic excess of generated power. It creates the need to limit generation in conventional power plants and to switch off some RESs. This article proposes an original methodology for optimally managing overloads of high-voltage power lines. The combination of the power flow tracking method and metaheuristic optimization allows for the effective elimination of line overloads. The aim of the calculations is to find the optimal power distribution in the selected sources, which provide minimal power limitation. As a result, this means a minimal reduction in the total generation in RESs. In this way, the effect of eliminating line overloads is achieved at the lowest possible cost of power redispatching. On the basis of the IEEE 118 bus test network, computational cases are considered, which are examples of emergency states.

Optimized unit commitment for peak load management with solar PV and storage under load uncertainty

2025-06-05

Smriti Jain , Neeraj Kanwar | Scientific Reports

Data-driven robust optimization for energy and reserve scheduling considering multi-uncertainty

2025-06-03

Zuqing Zheng , Guo Chen , Zixiang Shen +1 more | International Journal of Electrical Power & Energy Systems

A hybrid constrained multi-objective algorithm for dynamic economic emission dispatch

2025-06-02

Shuqu Qian , Huihui He , Huihong Wu +3 more | International Journal of Electrical Power & Energy Systems

A scheduling method for high proportion wind power systems considering high-dimensional nonlinear correlations

2025-06-01

Jinglong He , Tianyun Luo , Daiyu Xie | Journal of Physics Conference Series

Abstract Due to the influence of various factors such as wind speed, direction, terrain, and turbulence on the output of wind power, a high proportion of wind power systems experience … Abstract Due to the influence of various factors such as wind speed, direction, terrain, and turbulence on the output of wind power, a high proportion of wind power systems experience supply-demand imbalance, which affects the stable operation of the system. Therefore, a high proportion wind power system scheduling method that takes into account high-dimensional nonlinear correlation is proposed. Taking into account high-dimensional nonlinear correlation, the objective function is to minimize the operating cost of thermal power units while maximizing power system stability. Constraints are established to facilitate the development of a scheduling model for a high-wind-power-proportion system. Utilizing the vertical and horizontal cross algorithm, this study solves the scheduling model for high wind power proportion systems, enabling effective scheduling of such systems. The findings from the experiments demonstrate that the proposed method has a good scheduling effect on high proportion wind power systems and can effectively improve the scheduling efficiency of high proportion wind power systems.

Short-term Scheduling Model for Cascade Diversion Hydropower-Wind-Solar Hybrid Systems with Wasserstein-based Distributionally Robust Chance Constraints

2025-06-01

Benxi Liu , Tengyuan Liu , Z. W. Hu +2 more | Renewable Energy

An Epsilon constraint-based evolutionary algorithm and multi-objective quality metrics for combined economic emission dispatch problem

2025-06-01

Kit Yan Chan , Ka Fai Cedric Yiu , Dowon Kim | Neural Computing and Applications

A Synthetic Texas Power System with Time-Series Weather-Dependent Spatiotemporal Profiles

2025-06-01

Jin Lu , Xingpeng Li , Hongyi Li +5 more | Sustainable Energy Grids and Networks

A Method To Promote New Energy Consumption Based On Optimizing Multi-generation Capacity Settlement

2025-06-01

Peiguang Chen , Zihao Tian , Zehua Zhao +2 more | Journal of Physics Conference Series

Abstract This paper proposes a method to promote new energy consumption based on the optimization of multi-generation capacity settlement for the current new energy consumption problems. By analyzing the trading … Abstract This paper proposes a method to promote new energy consumption based on the optimization of multi-generation capacity settlement for the current new energy consumption problems. By analyzing the trading mechanism of a provincial power market, it explores its impact on the rate of new energy consumption and proposes a model to optimize the transaction settlement method. The model incentivizes new energy power plants to improve the accuracy of power generation forecasts by optimizing the allocation of base power and the price settlement of multi-generation capacity and introducing a compensation mechanism. Through the analysis of examples, it is verified that the optimized scheme can effectively reduce the phenomenon of wind and light abandonment, improve the rate of new energy consumption, alleviate the pressure of thermal power units’ peaking, and then promote the market-oriented development of new energy power.

Valuation of power purchase agreements for corporate renewable energy procurement

2025-06-01

Roozbeh Qorbanian , Nils Löhndorf , David Wozabal | European Journal of Operational Research

Benefits evaluation method for short-term scheduling of cascade hydropower station group in historical data-scarce regions

2025-06-01

Xiong Cheng , Fuxing Gong , X.R. Li +4 more | Energy

The Equity and Efficiency Effects of Electricity Network Tariff Reform: Evidence From Ireland

2025-05-31

Niall Farrell , Tensay Hadush Meles | The Energy Journal

We estimate the welfare implications of reforming residential electricity network tariffs to incorporate cost-reflective “Coasian” principles. For an Irish case study, we find that current Distribution Use of System (DUoS) … We estimate the welfare implications of reforming residential electricity network tariffs to incorporate cost-reflective “Coasian” principles. For an Irish case study, we find that current Distribution Use of System (DUoS) tariffs deviate considerably from those that incorporate cost-reflective principles. In aggregate, positive welfare effects are largely canceled out by negative welfare effects. This results in a relatively small net welfare impact of up to around €33 million. However, there is a regressive distribution of incidence at the household level. Households in the lowest income decile incur losses of up to around €40 per annum, on average, while households in the highest income decile benefit by up to €63 per annum, on average. We show that inefficient DUoS tariffs represent a costly redistribution policy. We demonstrate that it is more efficient to counter the regressive effects through the tax-benefit system. JEL Classification: L94, L98, Q42, Q48, Q51, Q53, Q54, Q55