Title :
LMP as Market Signal for Reserve Supply in Energy and Reserve Integrated Market
Author_Institution :
Korea Power Exchange, Seoul
fDate :
Oct. 29 2006-Nov. 1 2006
Abstract :
The effectiveness of locational marginal pricing as a market signal for reserve supply is discussed on the basis of network constrained integrated energy and reserve market arrangement in this paper. Revenue recovery based on LMP is explored as an assessment tool in the presence of serious network outage. The model used in this paper solved by using DC-OPF. In particular, marginal loss factor is incorporated into energy and reserve integrated market to overcome the absence of network loss price component in DC-based optimal power flow. Modified IEEE 30-bus model is used for numerical experiment
Keywords :
load flow; power markets; power system economics; power system faults; power system security; pricing; DC-OPF; LMP; locational marginal pricing; marginal loss factor; network outage; optimal power flow; power market; power system security; reserve integrated market; reserve supply; revenue recovery; Cost function; Electricity supply industry; Lagrangian functions; Load flow; Mathematical model; Power generation; Pricing; Propagation losses; Signal processing; Testing;
Conference_Titel :
Power Systems Conference and Exposition, 2006. PSCE '06. 2006 IEEE PES
Conference_Location :
Atlanta, GA
Print_ISBN :
1-4244-0177-1
Electronic_ISBN :
1-4244-0178-X
DOI :
10.1109/PSCE.2006.296433
