Reactive Power and FACTS Cost Models’ Impact on Nodal Pricing in Hybrid Electricity Markets
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In this paper, a method based on marginal cost theory is presented for locational marginal prices calculation for real and reactive power considering different reactive power cost models of generators' reactive support.Abstract:
In a competitive environment reactive power management is an essential service provided by independent system operator taking into account the voltage security and transmission losses. The system operator adopts a transparent and non-dis-criminatory procedure to procure the reactive power supply for optimal deployment in the system. Since generators’ are the main source of reactive power generation and the cost of the reactive power should be considered for their noticeable impact on both real and reactive power marginal prices. In this paper, a method based on marginal cost theory is presented for locational marginal prices calculation for real and reactive power considering different reactive power cost models of generators’ reactive support. With the presence of FACTS controllers in the system for more flexible operation, their impact on nodal prices can not be ignored for wheeling cost determination and has also to be considered taking their cost function into account. The results have been obtained for hybrid electricity market model and results have also been computed for pool model for comparison. Mixed Integer Non-linear programming (MINLP) approach has been formulated for solving the complex problem with MATLAB and GAMS interfacing. The proposed approach has been tested on IEEE 24-bus Reliability Test System (RTS).read more
Citations
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A comprehensive survey on reactive power ancillary service markets
Devika Jay,K.S. Swarup +1 more
TL;DR: In this paper, the challenges faced in implementing reactive power markets and presents a review of existing reactive power market mechanisms to address these challenges, and a framework suitable for reactive power ancillary service in a smart grid is also detailed in this paper.
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Reactive power pricing in power markets: a comprehensive review
TL;DR: In this article, reactive power is one of the main characteristics that play a major role in power systems and when reactive flow is inadequate, the power system is confronted with voltage collapse and more than enoug...
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Reactive power pricing using cloud service considering wind energy
TL;DR: A transparent and reliable method between the suppliers and consumers for optimal reactive power pricing and the services of the cloud technology have been used to provide transparent pricing based on the demands of the consumers.
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Power Flow Tracing Based Reactive Power Ancillary Service (AS) in Restructured Power Market
M. Susithra,R. Gnanadass +1 more
TL;DR: In this article, the authors presented a new formation that can be used to minimize the Independent System Operator (ISO)'s total payment for reactive power ancillary service, where the modified power flow tracing algorithm estimates the availability of reserve reactive power for ancill service.
Dissertation
Reactive Power Optimization and Pricing in Regulated and Deregulated Power System using Differential Evolution
TL;DR: A new and novel variant optimization algorithm called SelfBalanced Differential Evolution is used to solve the optimal reactive power dispatch problem which has multi variable characteristics with constraints and the results are compared with the solution obtained using Differential evolution.
References
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The IEEE Reliability Test System-1996. A report prepared by the Reliability Test System Task Force of the Application of Probability Methods Subcommittee
C. Grigg,P. Wong,P. Albrecht,R.N. Allan,M. P. Bhavaraju,Roy Billinton,Q. Chen,C. C. Fong,S. Haddad,S. Kuruganty,Wenyuan Li,R. Mukerji,D. Patton,N. Rau,D. Reppen,A. Schneider,Mohammad Shahidehpour,Chanan Singh +17 more
TL;DR: In this article, an enhanced test system (RTS-96) is described for use in bulk power system reliability evaluation studies, which will permit comparative and benchmark studies to be performed on new and existing reliability evaluation techniques.
Journal ArticleDOI
IEEE Reliability Test System
TL;DR: In this article, a load model, generation system, and transmission network which can be used to test or compare methods for reliability analysis of power systems is described. But the authors focus on the reliability of the power system and do not consider the transmission system.
Journal ArticleDOI
Real-time pricing of reactive power: theory and case study results
M.L. Baughman,S.N. Siddiqi +1 more
TL;DR: In this article, an analysis of real-time pricing policies of reactive power using a modification of the OPF (optimal power flow) model is presented, followed by a case study illustrating the magnitudes and ranges that realtime prices might take on under different circumstances.
Journal ArticleDOI
Reactive power pricing and management
Shangyou Hao,A. Papalexopoulos +1 more
TL;DR: In this article, the technical and economic issues of determining reactive power pricing structures in an open-access environment are explored, and several cost allocation methods for valuing reactive power are presented.
Journal ArticleDOI
Cost analysis of reactive power support
J.W. Lamont,J. Fu +1 more
TL;DR: In this article, a cost-based reactive power dispatch methodology is presented, which minimizes the total cost of reactive power support and determines the resultant reactive profile, and this cost is further expanded to include the pricing of reactive powers.
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