Short-term economic energy management in a competitive utility environment

An approach to short-term economic rescheduling is proposed. The method is based on an iterative combination of alternating consideration of technical and economic criteria. Its attractiveness lies in incorporating both technical and economic goals without the computational expense of combining them in a mathematical optimization process. A specific algorithm is proposed which is based on using a localized mismatch spreading algorithm. The method is potentially very useful for quantifying trade-offs between economics and system security in the newly evolving competitive environment.