Power market oriented optimal power flow via an interior point method

With deregulation and open access of the electricity supply industry occurring internationally, there are increasing pressures to develop power market oriented optimal power flow (OPF) algorithms, which are expected to be able to handle new added functional type inequality constraints, e.g. network congestion, generation bundling and price-dependent loads. A nonlinear interior point method based OPF is proposed for this purpose, which inherits both the supersparsity technique of the Newton OPF and the advantages of interior point methods in handling inequality constraints efficiently by slightly modifying Hessian matrix entries without changing their sparsity structure. Moreover, prices of various components are obtained directly from corresponding Lagrangian multipliers. Thus, the significance of the paper is the development of a flexible OPF methodology which can address the important issues in the operation of restructured power systems. Numerical results have shown that the proposed method is very promising for large-scale optimisations under deregulated environments