Electric Power Components & Systems. Mar2004, Vol. 32 Issue 3, p229-245. 17p.
Electric utilities, Deregulation, Prices, Electric power, Power transmission, and Electricity
This paper presents the formulation and features of the Price Based Unit Commitment (PBUC) in a deregulated power market. This model can be used by GENCOs in some deregulated markets where GENCOs are responsible for unit commitment, to commit and schedule their units for selling power, purchasing power, selling spinning and non-spinning reserves in order to maximize their own profit. Transmission congestion is incorporated through Locational Marginal Prices (LMPs) in PBUC. This paper also represents the derivation of the bidding strategy as a function of generation schedule. [ABSTRACT FROM AUTHOR]
Electric Power Components & Systems. Jan2004, Vol. 32 Issue 1, p53-73. 21p.
Electric industries, Prices, Electricity, and Power transmission
The high capital investment in a power transmission system compared to its variable operating costs is an impediment to the balancing of revenues and costs when the system operates in a spot pricing marketplace. This paper presents a revenue reconciliation method that recognizes the "use of system" by means of power flow tracing. To maximize social welfare, the proposal is that the spot prices remain unchanged but subject to a surcharge, which reflects the location of the node and thus may be considered to be an economic signal for long-term development of the system. The main advantage of the proposal is that it is fair and equitable to every market participant. It is also shown that the power flow tracing concept can also be applied to wheeling transactions for use of the system and that it can handle multiple wheeling transactions simultaneously. The proposed method is illustrated by reference to the IEEE 30-bus test system. The simulation results show its feasibility and potential for electricity market applications. [ABSTRACT FROM AUTHOR]
Electric Power Components & Systems. Jan2004, Vol. 32 Issue 1, p93-108. 16p.
Electric industries, Algorithms, Prices, and Electricity
Although spot price theory has been successfully practiced in some power markets worldwide, it has always been criticized for its lack of transparency. A competitive open power market requires transparent price signals, and each market participant has the right to query what has been charged and why. This paper presents a practical algorithm to give the detailed analysis of spot prices. By avoiding complicated sensitivity analysis of nonlinear programming, the implementation of the proposed algorithm is fast and highly efficient. Although the spot price can only be approximately decomposed by this algorithm, the accuracy of the result is still high due to its fully making use of the power system characteristics. Most important of all, the individual market participant can apply the proposed algorithm to evaluate the rationality of the price that he has to pay, while the complete sensitivity analysis of nonlinear programming cannot, since not all of the information necessary for the sensitivity analysis is available among the market participants. A well-known three-bus system and the IEEE 30-bus system are studied to illustrate the proposed algorithm. [ABSTRACT FROM AUTHOR]
Electric Power Components & Systems. Oct2001, Vol. 29 Issue 10, p915-926. 12p. 1 Diagram, 2 Charts, 4 Graphs.
Mathematical optimization, Prices, Electricity, Heat storage devices, and Energy dissipation
Real-Time Pricing (RTP) system is becoming more and more important for both electric utility industries and their customers. This is a reality as well as a trend, as the economical benefits under the RTP system are quite economically substantial. Under this condition, there are many ways used for customers to take advantage of the RTP system. This paper discusses the thermal storage method and presents some studies about the effect of the thermal storage energy loss (TSEL) to the optimization scheduling of the thermal storage system under the RTP system. These studies are based on the simulation of a store and the data of a simple structure house. Some proposals about the TSEL are put forward for the customers to adopt in their electricity scheduling of the thermal storage system under the RTP system. [ABSTRACT FROM AUTHOR]