Is system control entirely by price feasible?

Author

Alvarado, Fernando L.

Author_Institution

Wisconsin-Madison Univ., Madison, WI, USA

fYear

2003

fDate

6-9 Jan. 2003

Abstract

This paper revisits the possibility of controlling the power system entirely by means of price signals. It expands on notions introduced in an earlier paper and addresses several unresolved issues: problems with linear cost structures, response delays, varying costs, market power, and stability problems caused by market/system interactions. The results suggest that control by price can, in fact, be made to work with some caveats.

Keywords

load regulation; power markets; power system control; power system economics; linear cost structures; market interactions; market power; power system control; price feasibility; price signals; response delays; stability problems; system interactions; varying costs; Contracts; Control systems; Costs; Delay; Humans; Power generation; Power system control; Power system stability; Power systems; Pricing;

fLanguage

English

Publisher

ieee

Conference_Titel

System Sciences, 2003. Proceedings of the 36th Annual Hawaii International Conference on

Print_ISBN

0-7695-1874-5

Type

conf

DOI

10.1109/HICSS.2003.1173861

Filename

1173861

Link To Document

https://search.isc.ac/dl/search/defaultta.aspx?DTC=49&DC=3097064