Impact of Data Quality on Real-Time Locational Marginal Price

Author

Liyan Jia ; Jinsub Kim ; Thomas, R.J. ; Lang Tong

Author_Institution

Sch. of Electr. & Comput. Eng., Cornell Univ., Ithaca, NY, USA

Volume

29

Issue

2

fYear

2014

fDate

Mar-14

Firstpage

627

Lastpage

636

Abstract

The problem of characterizing impacts of data quality on real-time locational marginal price (LMP) is considered. Because the real-time LMP is computed from the estimated network topology and system state, bad data that cause errors in topology processing and state estimation affect real-time LMP. It is shown that the power system state space is partitioned into price regions of convex polytopes. Under different bad data models, the worst case impacts of bad data on real-time LMP are analyzed. Numerical simulations are used to illustrate worst case performance for IEEE-14 and IEEE-118 networks.

Keywords

convex programming; data analysis; geometry; power markets; power system state estimation; IEEE-118 network; IEEE-14 network; LMP; bad data analysis; convex polytopes; data models; data quality impact; deregulated electricity market; network topology estimation; numerical simulations; power system state space; real-time locational marginal price; system state estimation; Data models; Network topology; Power systems; Real-time systems; State estimation; Topology; Vectors; Bad data detection; cyber security of smart grid; locational marginal price (LMP); power system state estimation; real-time market;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/TPWRS.2013.2286992

Filename

6657769