Power systems marginal cost curve and its applications

Author

Wang, S.J. ; Shahidehpour, S.M. ; Xiang, Nian-de

Author_Institution

Dept. of Electr. & Comput. Eng., Illinois Inst. of Technol., Chicago, IL, USA

Volume

10

Issue

3

fYear

1995

fDate

8/1/1995 12:00:00 AM

Firstpage

1321

Lastpage

1328

Abstract

This paper presents a forward recursive procedure to calculate the expected system marginal cost curve (EMC). The EMC formulation allows for multi-state and multi-block dispatch of generating units and is used to determine the optimal energy of pumped-storage units. A new approach is developed to compute the first and second derivatives of the expected generation energy of a thermal unit with respect to the capacity of all thermal units in the system. The salient feature of the proposed approach is that it applies to hydro-thermal systems with multiple limited-energy hydro units

Keywords

economics; hydrothermal power systems; load dispatching; probability; pumped-storage power stations; thermal power stations; emissions control; expected system marginal cost curve; generating units dispatch; hydro-thermal systems; multi-block dispatch; multi-state dispatch; multiple limited-energy hydro units; power systems marginal cost curve; probabilistic dispatch; probabilistic production cost; pumped-storage units; Capacity planning; Costs; Electromagnetic compatibility; Power system modeling; Power system planning; Power system reliability; Power system security; Power system simulation; Power systems; Production;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/59.466521

Filename

466521