A Methodology for Optimal Power Dispatch under a Pool-Bilateral Market

This work proposes an optimization model for the power dispatch under a pool-bilateral market. In it, all transactions and also the power traded in the spot market are separated into different networks according to the corresponding current injections. Using the superposition principle (SP), a set of network equations is assigned to every transaction and also to the power injections related to the pool (spot market). The model comprises all network equations and also inequalities representing operational limits. A primal-dual interior-point method is used for the resolution of the optimization problem. The line currents, complex voltages, and power generation associated with every transaction and with the spot market are obtained. Results are presented for a 5 bus and the IEEE 118 bus systems.