Proceedings ArticleDOI
Value- Based Real Time Reactive Power Pricing Model Considering Voltage Security and Reserve Requirement
Devika Jay,K.S. Swarup +1 more
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In this article, a value based reactive power pricing model suitable for real-time market is proposed, where the objective of the Independent System Operator (ISO) is to minimize the value function of reactive power requirement in the system subject to generator limits, bus voltage limits and transmission line limits.Abstract:
Reactive power service is considered as an important ancillary service, due to its contribution towards maintaining system wide bus voltage. In this work, a value based reactive power pricing model suitable for real time market is proposed. In the proposed reactive power market model, bids(operation cost and lost opportunity cost(LOC) of reactive power) are received from the Generating Companies (GENCOs) participating in the real time market. From the bids received, a three component reactive power value function is formulated. The components of value function being load serving component, voltage support component and reserve component of reactive power requirement in the system. The objective of the Independent System Operator (ISO) is to minimise the value function of reactive power requirement in the system subject to generator limits, bus voltage limits and transmission line limits. From the Lagrange function of the optimisation problem, the marginal value (MV) of reactive power is derived to calculate the marginal price (MP) of reactive power. The NLP formulation of the market model is solved using DICOPT solver in GAMS and anlaysed on IEEE 24-Bus system. The simulation results prove that the proposed algorithm is efficient in clearing the reactive power market in such a way that the system wide bus voltage deviation is minimal and sufficient reactive power reserve is maintained in the network.read more
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International Journal of Electrical and Computer Engineering (IJECE)
TL;DR: Higher speed of the algorithm than simulation and traditional manual methods, expandability of this algorithm for variable circuits, beyond of four-dot square of QCA circuits, and the investigation of several damaged cells instead just one and special cell are the advantages of algorithmic action.
References
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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
Towards a Competitive Market for Reactive Power
Jin Zhong,Kankar Bhattacharya +1 more
TL;DR: In this paper, the design of a competitive market for reactive power ancillary services is presented, and the reactive power market is settled on uniform price auction, using a compromise programming approach based on a modified optimal power flow model.
Journal ArticleDOI
Reactive power pricing: a conceptual framework for remuneration and charging procedures
TL;DR: In this paper, a theoretical approach based on marginal pricing is proposed in order to clarify the principles to remunerate the suppliers and to charge the consumers of these services, and a practical organization of reactive supply and voltage service markets is presented to be implemented in a competitive environment.
Journal ArticleDOI
A reactive power management proposal for transmission operators
TL;DR: In this paper, a market-based solution for managing reactive services by transmission operators is presented, which obligates the generators to provide reactive services in proportion to their active power output, optimizing and integrating reactive procurement with market operation for least-cost solution.
Journal ArticleDOI
Using mathematical programming for electricity spot pricing
W.W. Hogan,E.G. Read,B.J. Ring +2 more
TL;DR: In this article, the authors derive implicit prices corresponding to an actual half-hourly dispatch of a full a.c. power system, and discuss the application of spot pricing in New Zealand and the United States.