Marginal Pricing via Penalty Factors in the Venezuelan Hydrothermal System

Author

Alvarez, Manuel ; Bermudez, Jose Carlos

fYear

2006

fDate

15-18 Aug. 2006

Firstpage

1

Lastpage

6

Abstract

The work shown next deals with the definition of nodal marginal prices, in the context of an economic dispatch solution with transmission losses. The losses are incorporated through penalty factors obtained from line distribution factors, using a linearization process. This study is applied to the hydrothermal Venezuelan system, considering plants with regulation capability and run-of-river dams. The objective function to be minimized includes present and future thermal costs, in addition, a discussion is given about the correct location of the slack node, in order to get similar results to these associated to an OPF solution

Keywords

dams; distribution networks; hydrothermal power systems; linearisation techniques; load dispatching; power generation economics; power transmission economics; Venezuelan hydrothermal system; economic dispatch solution; line distribution factors; linearization process; marginal pricing; nodal marginal prices; penalty factors; run-of-river dams; transmission losses; Costs; Lagrangian functions; Load flow; Power demand; Power generation; Pricing; Reservoirs; Rivers; Thermal resistance; Vectors; distribution factors; hydrothermal systems; marginal prices; penalty factors; regulation; run-of-river plants;

fLanguage

English

Publisher

ieee

Conference_Titel

Transmission & Distribution Conference and Exposition: Latin America, 2006. TDC '06. IEEE/PES

Conference_Location

Caracas

Print_ISBN

1-4244-0287-5

Electronic_ISBN

1-4244-0288-3

Type

conf

DOI

10.1109/TDCLA.2006.311525

Filename

4104756