Title :
Impacts of bulk power system reliability constraints on power market price volatility
Author :
Deng, Shi-Jie ; MelioPoulos, A. P Sakis ; Sun, Haibin
Author_Institution :
Sch. of Ind. & Syst. Eng., Georgia Inst. of Technol., Atlanta, GA, USA
Abstract :
The paper presents a market simulation approach for investigating the impacts of power system reliability constraints on the volatility of electricity prices. A locational marginal price (LMP) based power market is considered under a full AC power flow model with voltage constraints and postulated contingency tests. The paper outlines a formulation of the security and reliability constrained AC optimal power flow for modeling pool-based power market and provides a case study examining how the volatility of LMPs varies with uncertainties in loads, voltage stability bounds and transmission outages on a 7-bus system.
Keywords :
load flow; optimisation; power markets; power system security; power transmission reliability; pricing; 7-bus system; AC power flow; contingency analysis; load variation; locational marginal price; market simulation; optimal power flow; power market; power system reliability; power system security; power transmission; price volatility; voltage stability; Load flow; Power markets; Power system modeling; Power system reliability; Power system security; Power system simulation; Stability; Testing; Uncertainty; Voltage;
Conference_Titel :
Probabilistic Methods Applied to Power Systems, 2004 International Conference on
Print_ISBN :
0-9761319-1-9
