Components of Nodal Prices for Electric Power Systems

Author

Chen, Luo-nan ; Suzuki, Hajime ; Wachi, T. ; Shimura, Y.

Author_Institution

Osaka Sangyo University, Osaka, Japan; KCC (Ltd.), Tokyo, Japan; Electric Power Development Co. Ltd., Tokyo, Japan

Volume

21

Issue

11

fYear

2001

Firstpage

54

Lastpage

54

Abstract

A method is presented to provide a detailed description of each nodal price for electric power systems by breaking down each nodal price into a variety of parts corresponding to the concerned factors, such as generations, transmission congestion, voltage limitations, and other constraints or elements. This complete information for nodal prices can be used not only to improve the efficient usage of power grid and congestion management, but also to design a reasonable pricing structure of power systems, or to provide economic signals for generation or transmission investment. Several numerical examples demonstrate this approach.

Keywords

Energy management; Power generation; Power generation economics; Power grids; Power system economics; Power system management; Power systems; Pricing; Signal design; Voltage; Nodal price; active set; congestion; decomposition; deregulation; marginal cost; optimal power flow;

fLanguage

English

Journal_Title

Power Engineering Review, IEEE

Publisher

ieee

ISSN

0272-1724

Type

jour

DOI

10.1109/MPER.2001.4311139

Filename

4311139