Auction market simulator for price based operation

Author

Kumar, Jayant ; Sheblé, Gerald

Author_Institution

Dept. of Electr. Eng. & Comput. Eng., Iowa State Univ., Ames, IA, USA

Volume

13

Issue

1

fYear

1998

fDate

2/1/1998 12:00:00 AM

Firstpage

250

Lastpage

255

Abstract

Through the passage of new public utility regulatory policies, the US Federal Energy Regulatory Commission (FERC) encourages an open market system for price based operation. A previous paper describes a framework for price based operation and the associated technical issues in an auction market structure. This paper presents an auction market simulator to experimentally study the aspects of power system operation in a price-based environment. The proposed simulator can also be used as a tool to train system operators how to perform electric power transaction in the deregulated environment. This paper presents the simulation results of auction market for price based operation in the 24-bus, 10-generator IEEE Reliability Test System

Keywords

economics; electricity supply industry; power system analysis computing; tariffs; IEEE Reliability Test System; auction market simulator; computer simulation; deregulated environment; electric power transaction; open market system; power systems; price-based operation; utility regulatory policies; Analytical models; Computational modeling; Computer simulation; Forward contracts; Independent component analysis; Power system analysis computing; Power system reliability; Power system simulation; Propagation losses; System testing;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/59.651643

Filename

651643