DocumentCode
1802905
Title
New insights into the dynamic stability of wholesale electricity markets
Author
Zavala, Victor M. ; Anitescu, Mihai
Author_Institution
Math. & Comput. Sci. Div., Argonne Nat. Lab., Argonne, IL, USA
fYear
2011
fDate
28-30 Sept. 2011
Firstpage
828
Lastpage
833
Abstract
We summarize some recent results on the dynamic stability of wholesale electricity markets. We discuss how to construct control-theoretic market analysis frameworks using concepts of market efficiency, Lyapunov stability, and predictive control. Such frameworks can be used to design, analyze, and monitor the stability and robustness properties of different market designs. In particular, we discuss how short forecast horizons, incomplete gaming, and physical ramping constraints can give rise to stability issues.
Keywords
Lyapunov methods; power markets; predictive control; robust control; Lyapunov stability; control-theoretic market analysis; dynamic stability; market efficiency; physical ramping constraint; predictive control; robustness properties; wholesale electricity market; Cost function; Games; Generators; ISO; Lyapunov methods; Numerical stability; Stability analysis;
fLanguage
English
Publisher
ieee
Conference_Titel
Computer-Aided Control System Design (CACSD), 2011 IEEE International Symposium on
Conference_Location
Denver, CO
Print_ISBN
978-1-4577-1066-7
Electronic_ISBN
978-1-4577-1067-4
Type
conf
DOI
10.1109/CACSD.2011.6044562
Filename
6044562
Link To Document