The Application of Optimization Technology for Electricity Market Operation

Author

Sun, David ; Ma, Xingwang ; Cheung, Kwok

Author_Institution

AREVA T&D Inc., Bellevue, WA

fYear

2005

fDate

2005

Firstpage

1

Lastpage

6

Abstract

Mathematical optimization provides a formal framework that enables systematic and transparent decision making. Significant progress has been made in recent years in applications of formal optimization techniques for competitive market based resource commitment, scheduling, pricing and dispatch. This paper describes experiences with the application of optimization technology for electricity market operation. Experiences with and the status of the latest development in the security-constrained unit commitment and economic dispatch algorithms are described with references to actual market practices

Keywords

decision making; optimisation; power generation dispatch; power generation economics; power generation reliability; power generation scheduling; power markets; pricing; competitive market; decision making; economic dispatch algorithms; electricity market operation; formal optimization techniques; grid reliability; locational marginal pricing; optimal power flow; optimization technology; pricing; resource commitment; scheduling; security-constrained unit commitment; Constraint optimization; Costs; Electricity supply industry; Power generation economics; Power system economics; Pricing; Production; Reliability theory; Scheduling; Security; Electricity market operation; formal optimization; locational marginal pricing; optimal power flow; security-constrained unit commitment and economic dispatch;

fLanguage

English

Publisher

ieee

Conference_Titel

Transmission and Distribution Conference and Exhibition: Asia and Pacific, 2005 IEEE/PES

Conference_Location

Dalian

Print_ISBN

0-7803-9114-4

Type

conf

DOI

10.1109/TDC.2005.1546904

Filename

1546904