Dynamics-aware optimal power flow

The development of open electricity markets has led to a decoupling between the market clearing procedure that defines the power dispatch and the security analysis that enforces predefined stability margins. This gap results in market inefficiencies introduced by corrections to the market solution to accommodate stability requirements. In this paper we present an optimal power flow formulation that aims to close this gap. First, we show that the pseudospectral abscissa can be used as a unifying stability measure to characterize both poorly damped oscillations and voltage stability margins. This leads to two novel optimization problems that can find operation points which minimize oscillations or maximize voltage stability margins, and make apparent the implicit tradeoff between these two stability requirements. Finally, we combine these optimization problems to generate a dynamics-aware optimal power flow formulation that provides voltage as well as small signal stability guarantees.