Title :
Auction market simulator for price based operation
Author :
Kumar, Jayant ; Sheblé, Gerald
Author_Institution :
Dept. of Electr. Eng. & Comput. Eng., Iowa State Univ., Ames, IA, USA
fDate :
2/1/1998 12:00:00 AM
Abstract :
Through the passage of new public utility regulatory policies, the US Federal Energy Regulatory Commission (FERC) encourages an open market system for price based operation. A previous paper describes a framework for price based operation and the associated technical issues in an auction market structure. This paper presents an auction market simulator to experimentally study the aspects of power system operation in a price-based environment. The proposed simulator can also be used as a tool to train system operators how to perform electric power transaction in the deregulated environment. This paper presents the simulation results of auction market for price based operation in the 24-bus, 10-generator IEEE Reliability Test System
Keywords :
economics; electricity supply industry; power system analysis computing; tariffs; IEEE Reliability Test System; auction market simulator; computer simulation; deregulated environment; electric power transaction; open market system; power systems; price-based operation; utility regulatory policies; Analytical models; Computational modeling; Computer simulation; Forward contracts; Independent component analysis; Power system analysis computing; Power system reliability; Power system simulation; Propagation losses; System testing;
Journal_Title :
Power Systems, IEEE Transactions on
