Power system resilience procurement costs in N-k contingencies have gained more prominence as number of extreme events continues to increase.A chain rule is presented in this paper for extracting resilience procuremen...Power system resilience procurement costs in N-k contingencies have gained more prominence as number of extreme events continues to increase.A chain rule is presented in this paper for extracting resilience procurement costs from a fully decomposed locational marginal price(LMP)model.First,power transfer distribution factor(PTDF)matrices with AC power flow(i.e.,AC-PTDF)are determined.AC-PTDF and AC-LODF(line outage distribution factor)equations are derived for N-k contingencies and a fully decomposed LMP model is developed where generation and transmission security components are established for specific contingencies.Furthermore,resilience procurement costs can be measured at different buses for the proposed security components.Impact of N-k contingencies on resilience procurement costs at specific buses can be determined as proposed security components will gain more insight for resilience procurement in power systems.The modified IEEE 6-bus and 118-bus systems are adopted to verify effectiveness of the proposed resilience procurement method.展开更多
With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Marginal Price (LMP) are the two pr...With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Marginal Price (LMP) are the two practical pricing schemes on energy pricing and congestion cost allocation, which are based on different mechanisms. In this paper, these two pricing schemes are introduced in detail respectively. Also, the modified IEEE-14-bus system is used as a test system to calculate the allocated congestion cost by using these two pricing schemes.展开更多
Market power is known as the ability of units and generation companies(GenCos)to change electricity price profitably.As cleared in the definition,locational marginal price(LMP)is the most important key in market power...Market power is known as the ability of units and generation companies(GenCos)to change electricity price profitably.As cleared in the definition,locational marginal price(LMP)is the most important key in market power evaluation.Therefore,the main objective of the paper is to analyze market power of units and GenCos based on their abilities to change electricity price.At the first step,using Karush-Kuhn-Tucker(KKT)conditions of Lagrangian method,LMP is decomposed into four main components.These components indicate the share of each unit at the LMP of each bus.These values are calculated by the proposed analytical method,and cannot be obtained using simulation methods.At the second step,"unit-based LMP share(LMP_S)"index,which indicates the contribution factor of each unit at LMP of each bus,is proposed as a new structural market power index.This index is also used as an effective tool to determine the most profitable coalition between two units.Using that,the market operator can predict highly potential collusions.Moreover,"GenCosbased LMP_S"index is proposed.Using this effective tool,the contribution of each GenCo,which owns multiple units at various buses,at the LMP of each bus is discovered.The proposed market power indices are calculated on the IEEE24-bus test system and compared with some conventional structural market power indices.Incremental profits of units due to change of unit’s strategies verify the accuracy of the proposed method.展开更多
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 bypa...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 realtime 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.展开更多
Decarbonisation of power systems is essential for realising carbon neutrality,in which the economic cost caused by carbon needs to be qualified.Based on the formulation of locational marginal price(LMP),this paper pro...Decarbonisation of power systems is essential for realising carbon neutrality,in which the economic cost caused by carbon needs to be qualified.Based on the formulation of locational marginal price(LMP),this paper proposes a locational marginal electricity-carbon price(EC-LMP)model to reveal carbon-related costs caused by power consumers.A carbon-priceintegrated optimal power flow(C-OPF)is then developed to maximise economic efficiency of the power system considering the costs of electricity and carbon.Case studies are presented to demonstrate the new formulation and results demonstrate the efficacy of the EC-LMP-based C-OPF on decarbonisation and economy.展开更多
An iterative method based on Shapley Value Cooperative Game Theory is proposed for the calculation of local marginal price (LMP) for each Distributed Generator (DG) bus on a network. The LMP value is determined for ea...An iterative method based on Shapley Value Cooperative Game Theory is proposed for the calculation of local marginal price (LMP) for each Distributed Generator (DG) bus on a network. The LMP value is determined for each DG on the basis of its contribution to reduce loss and emission reduction, which is assessed using the Shapley Value approach. The proposed approach enables the Distribution Company (DISCO) decision-maker to operate the network optimally in terms of loss and emission. The proposed method is implemented in the Taiwan Power Company distribution network 7 warnings consisting of 84 buses and 11 feeders in the MATLAB environment. The results show that the proposed approach allows DISCO to operate the network on the basis of its priority between the reduction of active power loss and emission in the network.展开更多
The large-scale integration of renewable energy sources (RESs) brings huge challenges to the power system. A cost-effective reserve deployment and uncertainty pricing mechanism are critical to deal with the uncertaint...The large-scale integration of renewable energy sources (RESs) brings huge challenges to the power system. A cost-effective reserve deployment and uncertainty pricing mechanism are critical to deal with the uncertainty and variability of RES. To this end, this paper proposes a novel locational marginal pricing mechanism in day-ahead market for managing uncertainties from RES. Firstly, an improved multi-ellipsoidal uncertainty set (IMEUS) considering the temporal correlation and conditional correlation of wind power forecasting is formulated to better capture the uncertainty of wind power. The dimension of each ellipsoidal subset is optimized based on a comprehensive evaluation index to reduce the invalid region without large loss of modeling accuracy, so as to reduce the conservatism. Then, an IMEUS-based robust unit commitment (RUC) model and a robust economic dispatch (RED) model are established for the day-ahead market clearing. Both the reserve cost and ramping constraints are considered in the overall dispatch process. Furthermore, based on the Langrangian function of the RED model, a new locational marginal pricing mechanism is developed. The uncertainty locational marginal price (ULMP) is introduced to charge the RES for its uncertainties and reward the generators who provide reserve to mitigate uncertainties. The new pricing mechanism can provide effective price signals to incentivize the uncertainty management in the day-ahead market. Finally, the effectiveness of the proposed mechanism is verified via numerous simulations on the PJM 5-bus system and IEEE 118-bus system.展开更多
This paper proposes a distribution locational marginal pricing(DLMP) based bi-level Stackelberg game framework between the internet service company(ISC) and distribution system operator(DSO) in the data center park. T...This paper proposes a distribution locational marginal pricing(DLMP) based bi-level Stackelberg game framework between the internet service company(ISC) and distribution system operator(DSO) in the data center park. To minimize electricity costs, the ISC at the upper level dispatches the interactive workloads(IWs) across different data center buildings spatially and schedules the battery energy storage system temporally in response to DLMP. Photovoltaic generation and static var generation provide extra active and reactive power. At the lower level, DSO calculates the DLMP by minimizing the total electricity cost under the two-part tariff policy and ensures that the distribution network is uncongested and bus voltage is within the limit. The equilibrium solution is obtained by converting the bi-level optimization into a single-level mixed-integer second-order cone programming optimization using the strong duality theorem and the binary expansion method. Case studies verify that the proposed method benefits both the DSO and ISC while preserving the privacy of the ISC. By taking into account the uncertainties in IWs and photovoltaic generation, the flexibility of distribution networks is enhanced, which further facilitates the accommodation of more demand-side resources.展开更多
基金supported by the National Natural Science Foundation of China(52007032)Basic Research Program of Jiangsu Province(BK20200385)National Key R&D Program of China(2022YFB2703500).
文摘Power system resilience procurement costs in N-k contingencies have gained more prominence as number of extreme events continues to increase.A chain rule is presented in this paper for extracting resilience procurement costs from a fully decomposed locational marginal price(LMP)model.First,power transfer distribution factor(PTDF)matrices with AC power flow(i.e.,AC-PTDF)are determined.AC-PTDF and AC-LODF(line outage distribution factor)equations are derived for N-k contingencies and a fully decomposed LMP model is developed where generation and transmission security components are established for specific contingencies.Furthermore,resilience procurement costs can be measured at different buses for the proposed security components.Impact of N-k contingencies on resilience procurement costs at specific buses can be determined as proposed security components will gain more insight for resilience procurement in power systems.The modified IEEE 6-bus and 118-bus systems are adopted to verify effectiveness of the proposed resilience procurement method.
文摘With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Marginal Price (LMP) are the two practical pricing schemes on energy pricing and congestion cost allocation, which are based on different mechanisms. In this paper, these two pricing schemes are introduced in detail respectively. Also, the modified IEEE-14-bus system is used as a test system to calculate the allocated congestion cost by using these two pricing schemes.
文摘Market power is known as the ability of units and generation companies(GenCos)to change electricity price profitably.As cleared in the definition,locational marginal price(LMP)is the most important key in market power evaluation.Therefore,the main objective of the paper is to analyze market power of units and GenCos based on their abilities to change electricity price.At the first step,using Karush-Kuhn-Tucker(KKT)conditions of Lagrangian method,LMP is decomposed into four main components.These components indicate the share of each unit at the LMP of each bus.These values are calculated by the proposed analytical method,and cannot be obtained using simulation methods.At the second step,"unit-based LMP share(LMP_S)"index,which indicates the contribution factor of each unit at LMP of each bus,is proposed as a new structural market power index.This index is also used as an effective tool to determine the most profitable coalition between two units.Using that,the market operator can predict highly potential collusions.Moreover,"GenCosbased LMP_S"index is proposed.Using this effective tool,the contribution of each GenCo,which owns multiple units at various buses,at the LMP of each bus is discovered.The proposed market power indices are calculated on the IEEE24-bus test system and compared with some conventional structural market power indices.Incremental profits of units due to change of unit’s strategies verify the accuracy of the proposed method.
基金supported in part by the National Research Foundation of Korea(NRF)grant funded by the Korea government(MSIP)(No.2015R1C1A1A01051890)part by the National Science Foundation DGE-1303378
文摘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 realtime 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.
基金supported by the National Natural Science Foundation of China(U2166211).
文摘Decarbonisation of power systems is essential for realising carbon neutrality,in which the economic cost caused by carbon needs to be qualified.Based on the formulation of locational marginal price(LMP),this paper proposes a locational marginal electricity-carbon price(EC-LMP)model to reveal carbon-related costs caused by power consumers.A carbon-priceintegrated optimal power flow(C-OPF)is then developed to maximise economic efficiency of the power system considering the costs of electricity and carbon.Case studies are presented to demonstrate the new formulation and results demonstrate the efficacy of the EC-LMP-based C-OPF on decarbonisation and economy.
文摘An iterative method based on Shapley Value Cooperative Game Theory is proposed for the calculation of local marginal price (LMP) for each Distributed Generator (DG) bus on a network. The LMP value is determined for each DG on the basis of its contribution to reduce loss and emission reduction, which is assessed using the Shapley Value approach. The proposed approach enables the Distribution Company (DISCO) decision-maker to operate the network optimally in terms of loss and emission. The proposed method is implemented in the Taiwan Power Company distribution network 7 warnings consisting of 84 buses and 11 feeders in the MATLAB environment. The results show that the proposed approach allows DISCO to operate the network on the basis of its priority between the reduction of active power loss and emission in the network.
基金This work was supported in part by the National Key R&D Program of Chi‐na(No.2020YFE0200400)the National Nature Science Foundation of Chi‐na(No.51907140).
文摘The large-scale integration of renewable energy sources (RESs) brings huge challenges to the power system. A cost-effective reserve deployment and uncertainty pricing mechanism are critical to deal with the uncertainty and variability of RES. To this end, this paper proposes a novel locational marginal pricing mechanism in day-ahead market for managing uncertainties from RES. Firstly, an improved multi-ellipsoidal uncertainty set (IMEUS) considering the temporal correlation and conditional correlation of wind power forecasting is formulated to better capture the uncertainty of wind power. The dimension of each ellipsoidal subset is optimized based on a comprehensive evaluation index to reduce the invalid region without large loss of modeling accuracy, so as to reduce the conservatism. Then, an IMEUS-based robust unit commitment (RUC) model and a robust economic dispatch (RED) model are established for the day-ahead market clearing. Both the reserve cost and ramping constraints are considered in the overall dispatch process. Furthermore, based on the Langrangian function of the RED model, a new locational marginal pricing mechanism is developed. The uncertainty locational marginal price (ULMP) is introduced to charge the RES for its uncertainties and reward the generators who provide reserve to mitigate uncertainties. The new pricing mechanism can provide effective price signals to incentivize the uncertainty management in the day-ahead market. Finally, the effectiveness of the proposed mechanism is verified via numerous simulations on the PJM 5-bus system and IEEE 118-bus system.
基金supported in part by the 2021 Graduate Research and Innovation Program of Jiangsu,China (No.KYCX21_0473)the China Scholarship Council (CSC) Program (No.202106710110)。
文摘This paper proposes a distribution locational marginal pricing(DLMP) based bi-level Stackelberg game framework between the internet service company(ISC) and distribution system operator(DSO) in the data center park. To minimize electricity costs, the ISC at the upper level dispatches the interactive workloads(IWs) across different data center buildings spatially and schedules the battery energy storage system temporally in response to DLMP. Photovoltaic generation and static var generation provide extra active and reactive power. At the lower level, DSO calculates the DLMP by minimizing the total electricity cost under the two-part tariff policy and ensures that the distribution network is uncongested and bus voltage is within the limit. The equilibrium solution is obtained by converting the bi-level optimization into a single-level mixed-integer second-order cone programming optimization using the strong duality theorem and the binary expansion method. Case studies verify that the proposed method benefits both the DSO and ISC while preserving the privacy of the ISC. By taking into account the uncertainties in IWs and photovoltaic generation, the flexibility of distribution networks is enhanced, which further facilitates the accommodation of more demand-side resources.
