LMP step pattern detection based on real-time data

Author

Haoyu Yuan ; Fangxing Li ; Yanli Wei

Author_Institution

Dept. of Electr. Eng. & Comput. Sci., Univ. of Tennessee, Knoxville, TN, USA

fYear

2013

fDate

21-25 July 2013

Firstpage

1

Lastpage

5

Abstract

Locational marginal pricing (LMP) methodology has been widely adopted by most independent system operators (ISOs) and regional transmission organizations (RTOs) in today´s electricity markets. Previous studies show that LMP has a step change characteristic with varying load. This can be used by market participants to predict the future electricity price and potential step change of LMP. In this paper, an effective algorithm using quality threshold (QT) clustering is proposed to detect the step change pattern of the hourly LMP. A set of indices to differentiate various patterns is introduced. Furthermore, a web-based tool is built to demonstrate the price behavior of different locations based on the 5 minutes real-time LMP data from ISOs/RTOs. The user friendly design with clustering functionality ensures easy statistical study over a large amount of historical data.

Keywords

pattern clustering; power markets; power supply quality; power transmission economics; pricing; statistical analysis; ISO; Independent System Operator; LMP step pattern detection; QT clustering; RTO; Regional Transmission Organization; Web-based tool; electricity market; electricity price; load step change characteristic; locational marginal pricing methodology; quality threshold clustering; real-time LMP data; statistical analysis; time 5 min; Clustering algorithms; Databases; Detection algorithms; Java; Load modeling; Real-time systems; Standards; Locational marginal price (LMP); QT clustering; critical load level (CLL); market participant; price prediction; step change pattern detection;

fLanguage

English

Publisher

ieee

Conference_Titel

Power and Energy Society General Meeting (PES), 2013 IEEE

Conference_Location

Vancouver, BC

ISSN

1944-9925

Type

conf

DOI

10.1109/PESMG.2013.6673058

Filename

6673058