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Proceedings ArticleDOI

Heuristic approach on economic load dispatch problem using willingness to pay along with incentive based load curtailment schemes

TL;DR: In this article, the authors proposed a novel approach of scheduling power by incorporating willingness to pay of consumers into the load dispatch problem and used bees foraging algorithm (BFA) to perform economic load dispatching problem.
Abstract: In the current electricity market, the demand for power increases exponentially day by day. The ISO can boost the power sales by using “willingness to pay” approach on the consumers. This paper proposes a novel approach of scheduling power by incorporating willingness to pay of consumers into the load dispatch problem. The consumers with higher willingness to pay usually use appropriate capacity transmission lines to receive power owing to their evident power needs. The appropriate capacity of the transmission lines allows congestion free power distribution and thus enabling a holistic improvement of the transmission system. The paper also includes the emission constraints to reduce the emissions from the generating plants and an incentive based curtailment scheme to support the willingness to pay based load dispatch. The proposed optimized model uses bees foraging algorithm (BFA) to perform economic load dispatch problem. A three generator model is used to illustrate the proposed approach.
References
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Book
14 May 2002
TL;DR: In this paper, the authors present a detailed analysis of the real-time power market in theory and in practice, including the day-ahead market and the congestion pricing methods, as well as the two-settlement system.
Abstract: List of Results and Fallacies. Preface. Acronyms and Abbreviations. Symbols. Part 1: Power Market Fundamentals. Prologue. Why Deregulate? What to Deregulate. Pricing Power, Energy, and Capacity. Power Supply and Demand. What Is Competition? Marginal Cost in a Power Market. Market Structure. Market Architecture. Designing and Testing Market Rules. Part 2: Reliability, Price Spikes and Investment. Reliability and Investment Policy. Price Spikes Recover Fixed Costs. Reliability and Generation. Limiting the Price Spikes. Value-of-Lost-Load Pricing. Operating-Reserve Pricing. Market Dynamics and the Profit Function. Requirements for Installed Capacity. Inter-System Competition for Reliability. Unsolved Problems. Part 3: Market Architecture. Introduction. The Two-Settlement System. Day-Ahead Market Designs. Ancillary Services. The Day-Ahead Market in Theory. The Real-Time Market in Theory. The Day-Ahead Market in Practice. The Real-Time Market in Practice. The New Unit-Commitment Problem. The Market for Operating Reserves. Part 4: Market Power. Defining Market Power. Exercising Market Power. Modeling Market Power. Designing to Reduce Market Power. Predicting Market Power. Monitoring Market Power. Part 5: Locational Pricing. Power Transmission and Losses. Physical Transmission Limits. Congestion Pricing Fundamentals. Congestion Pricing Methods. Congestion Pricing Fallacies. Refunds and Taxes. Pricing Losses on Lines. Pricing Losses at Nodes. Transmission Rights. Glossary. References. Index.

1,447 citations


"Heuristic approach on economic load..." refers background in this paper

  • ...A load curtailment scheme is also presented for the demand side management based on the incentive provided to the consumer to reduce the power consumption [6]....

    [...]

BookDOI
01 Jan 2002

903 citations

Journal ArticleDOI
01 Feb 2000
TL;DR: Three very different methods of accomplishing the same task-managing the operation of the transmission system in the deregulated power system operating environment-have been implemented as deregulated market structures have been created around the world.
Abstract: Three very different methods of accomplishing the same task-managing the operation of the transmission system in the deregulated power system operating environment-have been implemented as deregulated market structures have been created around the world. They are first, the optimal power flow (OPF) model found in various implementations in the United Kingdom, parts of the United States, and in Australia and New Zealand. Second, the point tariff, price area congestion control model used in the Nordpool market area in Norway and Sweden. Third, the US transaction-based model. All are pragmatic solutions implemented in advance of complete theoretical understanding. Each has strengths and flaws, and there are some surprising inter-relationships. Each maintains power system security but differs in its impact on the economics of the energy market. No clearly superior method has so far emerged. In the future, methods of combining decentralized market solutions with operational use of optimal power flow may provide better solutions to existing and emerging problems.

852 citations


"Heuristic approach on economic load..." refers background in this paper

  • ...Meanwhile the social welfare is improved ensuring the profits from the Independent System Operator (ISO) benefit function [2] [7]....

    [...]

Journal ArticleDOI
TL;DR: The main industry drivers of smart grid and the different facets of DER under the smart grid paradigm are explored and the existing and evolving programs at different ISOs/RTOs and the product markets they can participate in are summarized.
Abstract: Demand response (DR), distributed generation (DG), and distributed energy storage (DES) are important ingredients of the emerging smart grid paradigm. For ease of reference we refer to these resources collectively as distributed energy resources (DER). Although much of the DER emerging under smart grid are targeted at the distribution level, DER, and more specifically DR resources, are considered important elements for reliable and economic operation of the transmission system and the wholesale markets. In fact, viewed from transmission and wholesale operations, sometimes the term ?virtual power plant? is used to refer to these resources. In the context of energy and ancillary service markets facilitated by the independent system operators (ISOs)/regional transmission organizations (RTOs), the market products DER/DR can offer may include energy, ancillary services, and/or capacity, depending on the ISO/RTO market design and applicable operational standards. In this paper we first explore the main industry drivers of smart grid and the different facets of DER under the smart grid paradigm. We then concentrate on DR and summarize the existing and evolving programs at different ISOs/RTOs and the product markets they can participate in. We conclude by addressing some of the challenges and potential solutions for implementation of DR under smart grid and market paradigms.

846 citations


"Heuristic approach on economic load..." refers background in this paper

  • ...incentive payout to the consumer and the curtailments are decided accordingly [9]....

    [...]

Journal ArticleDOI
TL;DR: This paper proposes a privacy-preserving scheme for IDR programs in the smart grid, which enables the DR provider to compute individual demand curtailments and DR rewards while preserving customer privacy.
Abstract: The advanced metering infrastructure (AMI) in the smart grid provides real-time information to both grid operators and customers, exploiting the full potential of demand response (DR). However, it introduces new privacy threats to customers. Prior works have proposed privacy-preserving methods in the AMI, such as temporal or spatial aggregation. A main assumption in these works is that fine-grained data do not need to be attributable to individuals. However, this assumption does not hold in incentive-based demand response (IDR) programs where fine-grained metering data are required to analyze individual demand curtailments, and hence, need to be attributable. In this paper, we propose a privacy-preserving scheme for IDR programs in the smart grid, which enables the DR provider to compute individual demand curtailments and DR rewards while preserving customer privacy. Moreover, a customer can reveal his/her identity and prove ownership of his/her power usage profile in certain situations, such as legal disputes. We achieve both privacy and efficiency in our scheme through a combination of several cryptographic primitives, such as identity-committable signatures and partially blind signatures. As far as we know, we are the first to identify and address privacy issues for IDR programs in the smart grid.

185 citations