Real-time operation of deregulated electricity market: An integrated approach to dynamic stability assurance

Dynamic stability is playing an important role for a secure power system operation. Dynamic stability assessment provides online quantification of a security level associated with the competitive market schedule. Dynamic stability has been one of the most computationally expensive calculations during contingency management in the control centers. Independent system operator coordinates the data available from energy market, ancillary services market and bilateral contracts to meet the real-time imbalance and assures system reliability and security. Real-time optimal energy coordination for fast dynamic stability constrained operation proposed in this paper where load, generation and reserve re-dispatch used to improve state of power system operation. The load curtailments and generation re-dispatch to ensure the dynamic stability and system constraints are determined based on minimizing the required real-time market payments using an optimization technique. The participants have opportunities to submit their energy bids or offers to gain profit from the market and independent system operator implements a non-discriminated market to achieve the real-time balancing with minimum payment. The problem formulated as dynamic stability constrained optimal power flow and particle swarm optimization used as optimization tool to guarantee the optimal or near optimal solution to minimize the total cost of rescheduling. The artificial neural network has been proposed as a fast tool to evaluate the system dynamic stability index, which considered as constraint during the optimization. 66-bus power system has been used to illustrate the proposed method.