Investigations of Various Market Models in a Deregulated Power Environment Using ACOPF

Aruna Kanagaraj and Kumudini Devi Raguru Pandu
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Aruna Kanagaraj: Department of EEE, Anna University, Chennai 600025, Tamil Nadu, India
Kumudini Devi Raguru Pandu: Department of EEE, Anna University, Chennai 600025, Tamil Nadu, India

Energies, 2020, vol. 13, issue 9, 1-17

Abstract: A bi-level electricity market clearing process was developed for energy and reserve allocation in the day-ahead market using AC Optimal Power Flow (ACOPF). An energy-consuming entity (ECE) which does not want its cleared demand to be curtailed, even if any contingency occurs, purchases power from the reserve market at a higher rate. The proposed model helps the ECE to secure a reserve market allocation at the price of the energy market in the real-time market settlement. Various market models were formulated for the evaluation of locational marginal pricing (LMP) in the energy market and locational contingency marginal reserve pricing (LCMRP) in the reserve market. The impact of wind farms on LMP, LCMRP, and negative LMP was analyzed. The increase in demand requirement in the deregulated environment was balanced in the proposed models by the thermal–wind coordination dispatch. The market models were illustrated with the IEEE 30 bus system.

Keywords: ACOPF; locational marginal pricing (LMP); locational contingency marginal reserve pricing (LCMRP); contingency demand requirement; wind penetration (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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