Dynamic Energy and Reserve Dispatch Solutions for Electricity Market with Practical Constraints: Intelligent Computing Technique

Continuous power supply is crucial for any developing economy and its cost efficiency and reliability is highly dependent on operating reserve. Globally, the power systems are adopting a market based structure to enhance performance. In conventional electricity markets reserve gets a second place as its dispatch is performed after energy allocation but in the competitive market these two commodities are dispatched simultaneously to maximize efficiency and reliability. This study proposes a technique based on interior point algorithm for optimizing the dynamic combined energy and reserve dispatch problem with practical complex equality and inequality constraints such as power balance, generation and reserve capacity limits, ramp-up/down limits, and reserve-energy coupling constraints. To simulate practical outage conditions generator contingencies and their effect on operating cost and reserve dispatch is observed. The proposed algorithm is simulated on MATLAB platform and tested for three different cases of the IEEE 57 bus system with 17 generating units. It is found that the proposed method converges to optimal solution for all tested cases and produces feasible solutions where all complex constraints are completely satisfied.