Market-clearing with stochastic security-part II: case studies

Author

Bouffard, François ; Galiana, Francisco D. ; Conejo, Antonio J.

Author_Institution

Dept. of Electr. & Comput. Eng., McGill Univ., Montreal, Que., Canada

Volume

20

Issue

4

fYear

2005

Firstpage

1827

Lastpage

1835

Abstract

This paper analyzes the market-clearing formulation with stochastic security developed in its companion paper through two case studies solved using mixed-integer linear programming techniques. The generation and reserve schedules as well as the nodal prices of energy and security are assessed under various conditions such as a) line flow limits, b) when nonspinning reserve is excluded from the formulation, c) demand-side valuation of energy not served, d) generator ramping limits, and e) the set of pre-selected contingencies.

Keywords

integer programming; linear programming; power markets; power system security; pricing; demand-side valuation; electricity market; generator ramping limit; line flow limit; marginal pricing; market clearing formulation; mixed-integer linear programming; nonspinning reserve; stochastic security; stochastic unit commitment; three-generator power system; Computer aided software engineering; Cost accounting; Electricity supply industry; Linear programming; Power generation; Power system analysis computing; Pricing; Security; Spinning; Stochastic processes; Computational complexity; electricity markets; expected load not served; marginal pricing; mixed-integer linear programming; reserve; security; stochastic unit commitment; value of lost load;

fLanguage

English

Journal_Title

Power Systems, IEEE Transactions on

Publisher

ieee

ISSN

0885-8950

Type

jour

DOI

10.1109/TPWRS.2005.857015

Filename

1525112