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

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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)

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.

Suggested Citation

  • Aruna Kanagaraj & Kumudini Devi Raguru Pandu, 2020. "Investigations of Various Market Models in a Deregulated Power Environment Using ACOPF," Energies, MDPI, vol. 13(9), pages 1-17, May.
    • Handle: RePEc:gam:jeners:v:13:y:2020:i:9:p:2354-:d:355500
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    References listed on IDEAS

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    1. Carta, J.A. & Ramírez, P. & Velázquez, S., 2009. "A review of wind speed probability distributions used in wind energy analysis: Case studies in the Canary Islands," Renewable and Sustainable Energy Reviews, Elsevier, vol. 13(5), pages 933-955, June.
    2. Reddy, S. Surender, 2017. "Optimal scheduling of thermal-wind-solar power system with storage," Renewable Energy, Elsevier, vol. 101(C), pages 1357-1368.
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    Cited by:

    1. Diego Larrahondo & Ricardo Moreno & Harold R. Chamorro & Francisco Gonzalez-Longatt, 2021. "Comparative Performance of Multi-Period ACOPF and Multi-Period DCOPF under High Integration of Wind Power," Energies, MDPI, vol. 14(15), pages 1-15, July.
    2. Zorana Božić & Dušan Dobromirov & Jovana Arsić & Mladen Radišić & Beata Ślusarczyk, 2020. "Power Exchange Prices: Comparison of Volatility in European Markets," Energies, MDPI, vol. 13(21), pages 1-15, October.
    3. Waldemar Niewiadomski & Aleksandra Baczyńska, 2021. "Advanced Flexibility Market for System Services Based on TSO–DSO Coordination and Usage of Distributed Resources," Energies, MDPI, vol. 14(17), pages 1-31, September.

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