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A framework for compromising between power generation cost and power system security in regulated market using MO-OPF

Arabali, A ; Sharif University of Technology

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  1. Type of Document: Article
  2. DOI: 10.1109/EPEC.2010.5697252
  3. Abstract:
  4. Transmission line congestion in electricity market is lead to increase the energy cost and change in local marginal prices. So, it is probable that the market power is manifested. Market power may prevent the full competition in Electricity Market. Moreover, in this condition, with operating of power system in its boundary conditions, the system may be damaged and the security of the system may be disturbed. On the other hand, decreasing the line flows from their optimal value, cost and consequently, price of energy are increased. So, there is need to have a compromise between the line flow decrease and the cost those impose. In this paper, a framework for compromising between social cost and security are suggested. The suggested algorithm uses Multi-Objective Optimal Power Flow conception and with compromising, selects the best decreased line flow from its allowed value subject to minimum cost. This leads to decrease the risk of damaging of the system and result in more power system security. The proposed algorithm is simulated on the 14-Bus IEEE test system
  5. Keywords:
  6. Genetic algorithm ; Multi-objective optimal power flow ; Pareto optimality ; Transmission congestion ; Competition in electricity markets ; Electricity market ; Energy cost ; IEEE test systems ; Line flows ; Marginal prices ; Market power ; Minimum cost ; Optimal values ; Power system security ; Power systems ; Social cost ; Transmission line ; Acoustic generators ; Commerce ; Costs ; Electric industry ; Electric load flow ; Electric power generation ; Electric power supplies to apparatus ; Electricity ; Energy conservation ; Genetic algorithms ; Multiobjective optimization ; Smart power grids
  7. Source: EPEC 2010 - IEEE Electrical Power and Energy Conference: "Sustainable Energy for an Intelligent Grid", 25 August 2010 through 27 August 2010 ; 2010 ; 9781424481880 (ISBN)
  8. URL: http://ieeexplore.ieee.org/document/5697252