tailieunhanh - Different models for LMP calculation in wholesale power markets considering active power reserves: A comparison

This paper compares the DC optimal power flow (DCOPF) model and AC optimal power flow (ACOPF) that are used to calculate LMP in the wholesale electricity market. The study takes into account the price-sensitive loads and active power reserves. DCOPF model has 2 forms: DCOPF without losses and iterative DCOPF with losses. | Journal of Science & Technology 123 (2017) 001-006 Different Models for LMP Calculation in Wholesale Power Markets Considering Active Power Reserves: a Comparison Pham Nang Van*, Nguyen Dong Hung, Nguyen Duc Huy Hanoi University of Science and Technology, No. 1, Dai Co Viet Str., Hai Ba Trung, Ha Noi, Viet Nam Received: June 06, 2016; Accepted: November 03, 2017 Abstract Locational marginal price (LMP) is an important element in the operation of electricity markets. LMP is used to determine payments in the electricity markets, to derive bidding strategies of market participants, and to make plan for new transmission lines and power plants. This paper compares the DC optimal power flow (DCOPF) model and AC optimal power flow (ACOPF) that are used to calculate LMP in the wholesale electricity market. The study takes into account the price-sensitive loads and active power reserves. DCOPF model has 2 forms: DCOPF without losses and iterative DCOPF with losses. Fictitious nodal demand (FND) is used to calculate marginal loss component of LMP. In addition, branch flow limits are also adjusted in the iterative DCOPF model. LMPs, active power outputs and reserves of generators are illustrated on a 3 bus system. Keywords: Locational * marginal prices (LMP), wholesale power markets, active power reserves, DCOPF, ACOPF, fictitious nodal demand (FND). Nomenclature λGib PGib RR + λ Gi RR − λ Gi λSR Gi XR λ Gi RR + PGi SR PGi XR PGi λ Djk PDjk + λ RR b λ CR b λ OR b + A RR b A OR b Contingency Reserve Power block b bid by Area (variable) Operation Reserve Power block b bid by Area (variable) E PDj Elastic power of demand j A CR b Price of the energy block b offered by generating unit i (constant) Power of the energy block b offered by generating unit i (variable) Price of Up Regulation Reserve (RR) offered by generating unit i (constant) Price of Down Regulation Reserve offered by generating unit i (constant) Price of Spinning Reserve (SR) offered by generating .