Title :
A framework for the simultaneous clearing of multiple markets within a common transmission system
Author :
Marinakis, Adamantios ; Rosehart, W.D. ; Van Cutsem, Thierry
Author_Institution :
Dept. of Electr. Eng. & Comput. Sci., Univ. of Liege, Liege, Belgium
Abstract :
The possibility for market participants to place their bids in all the markets of an interconnection irrespective of where they are physically connected is investigated in this paper. A mechanism is proposed for managing the resulting congestion. It consists in iteratively sharing the transmission line capacities between the different market operators based each time on their present schedules. The algorithm is applied on a small test system. The results are assessed in terms of their property of being Nash equilibria and of their distance of the set of Pareto optimal operating points.
Keywords :
power markets; power transmission economics; power transmission lines; Nash equilibria; Pareto optimal operating points; congestion management; multiple market clearing; transmission line; transmission system; Cost function; Dispatching; Engineering management; Europe; Iterative algorithms; Pareto optimization; Power generation economics; Power transmission lines; Region 1; System testing; congestion management; decomposed optimization; overlapping markets; pareto efficiency;
Conference_Titel :
PowerTech, 2009 IEEE Bucharest
Conference_Location :
Bucharest
Print_ISBN :
978-1-4244-2234-0
Electronic_ISBN :
978-1-4244-2235-7
DOI :
10.1109/PTC.2009.5282254
