Impact of power system network topology errors on real-time locational marginal price

Abstract

This paper examines the impact of power transmission network topology change on locational marginal price (LMP) in real-time power markets. We consider the case where the false status of circuit breakers (CBs) that bypass topology error processing can generate an incorrect power system network topology, subsequently distorting the results of the state estimation and economic dispatch. The main goal of this paper is to assess the economic impact of this misconfigured network topology on real-time LMP in an entire power system with network congestion. To this end, we start with our prior result, a simple and analytical congestion price equation, which can be applied to any single line congestion scenario. This equation can be extended to better understand the degree to which the LMP at any bus changes due to any line status error. Furthermore, it enables a rigorous analysis of the relationship between the change in LMP at any bus with respect to any line error and various physical/economical grid conditions such as the bidding prices for marginal generators and the locations of the congested/erroneous lines. Numerical examples on the impact analysis of this topology error are illustrated in IEEE 14-bus and 118-bus systems.