Optimization-based auction mechanism for inter-ISO congestion management

Author

Aguado, José ; Quintana, Víctor ; Madrigal, Marcelino

Author_Institution

Dept. of Electr. Eng., Malaga Univ., Spain

Volume

3

fYear

2001

fDate

15-19 July 2001

Firstpage

1647

Abstract

The introduction of competition in the electric power industry and the growth of inter-regional trading of electric power requires the development of new market-oriented mechanisms for inter-ISO congestion management. In this paper, we are concerned with the operation of power systems consisting of several interconnected power pools. We propose a decentralized optimization-based auction mechanism to manage inter-ISO congestion. The interaction of adjacent system operators is efficiently taken into account in order to achieve system-wide efficiency. The coordination among ISOs is carried out through a triad sequence of prices at tie-lines.

Keywords

electricity supply industry; optimisation; power system interconnection; power transmission; adjacent system operators; decentralized optimization-based auction mechanism; electric power industry; inter-ISO congestion management; inter-regional power trading; interconnected power pools; interior point methods; optimization-based auction mechanism; system-wide efficiency; tie-line prices; Costs; Energy management; Lagrangian functions; Load flow; Optimization methods; Power industry; Power markets; Power system interconnection; Power system management; Power system modeling;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Engineering Society Summer Meeting, 2001

Conference_Location

Vancouver, BC, Canada

Print_ISBN

0-7803-7173-9

Type

conf

DOI

10.1109/PESS.2001.970322

Filename

970322