Title :
A bounding approach to multiarea probabilistic production costing
Author :
Hobbs, Benjamin F. ; Ji, Yuandong
Author_Institution :
Dept. of Syst., Control & Ind. Eng., Case Western Reserve Univ., Cleveland, OH, USA
fDate :
5/1/1995 12:00:00 AM
Abstract :
The expected production cost of a multiarea power system is estimated by constructing a sequence of upper and lower bounds. The approach uses a state space characterization of equipment availability and loads, combined with network optimization methods and standard load duration curve based production costing techniques. Convergence of the algorithms is proved. An illustrative application is presented
Keywords :
costing; economics; electric power generation; power system interconnection; probability; state-space methods; algorithms convergence; bounding approach; equipment availability; expected production cost; loads; multiarea power system; multiarea probabilistic production costing; network optimization methods; standard load duration curve; state space characterization; Availability; Control systems; Costing; Costs; Power system modeling; Power system planning; Power system reliability; Power system simulation; Production systems; State-space methods;
Journal_Title :
Power Systems, IEEE Transactions on
