Market-clearing for pricing system security based on voltage stability criteria
- Authors
- Kim, M. K.; Park, J. K.; Nam, Y. W.
- Issue Date
- Feb-2011
- Publisher
- PERGAMON-ELSEVIER SCIENCE LTD
- Keywords
- Market-clearing; Local marginal price; LMP; Voltage stability criteria; Security constrained-optimal power flow; SC-OPF; Benders' decomposition; Bilateral contract
- Citation
- ENERGY, v.36, no.2, pp 1255 - 1264
- Pages
- 10
- Journal Title
- ENERGY
- Volume
- 36
- Number
- 2
- Start Page
- 1255
- End Page
- 1264
- URI
- https://scholarworks.bwise.kr/cau/handle/2019.sw.cau/61060
- DOI
- 10.1016/j.energy.2010.11.019
- ISSN
- 0360-5442
1873-6785
- Abstract
- This paper presents a novel technique for representing system security in the operation of decentralized electricity markets, with special emphasis on voltage stability. The market-clearing algorithm is modeled as voltage stability constrained-optimal power flow (VSC-OPF) problem for providing market solutions by means of a function of complying with the required voltage stability criteria. Benders' decomposition is applied for solving the VSC-OPF incorporating post-contingency control actions, which is motivated by the improvement of computational efficiency using parallel processing. The proposed VSC-OPF framework also takes into consideration the bilateral contract information, which is integrated into the market-clearing process and, at the same time, the optimal pricing expressions through computing local marginal prices (LMPs) with respect to ensuring voltage stability are derived. VSC-OPF is tested on the IEEE 14-bus benchmark system and the results obtained, when compared to those obtained by means of a conventional OPF, show that the proposed technique is able to improve system security while yielding better market solutions and total transaction levels. (c) 2010 Elsevier Ltd. All rights reserved.
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Collections - College of Engineering > School of Energy System Engineering > 1. Journal Articles
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