DocumentCode :
190295
Title :
Price discovery in dynamic power markets with low-voltage distribution-network participants
Author :
Ntakou, Elli ; Caramanis, Michael
Author_Institution :
Div. of Syst. Eng., Boston Univ., Boston, MA, USA
fYear :
2014
fDate :
14-17 April 2014
Firstpage :
1
Lastpage :
5
Abstract :
We focus on extending Locational Marginal Price (LMP) principles to (i) incorporate marginal costs of real and reactive power, line losses, voltage control, and distribution asset life degradation, and (ii) to enable distribution network connected loads and generators to participate in marginal cost based real and reactive power transactions. To this end, we define a distribution market that can discover spatiotemporal real and reactive power prices dynamically to optimize cost and utility of distributed generation assets, consumers, transformer and other asset life degradation, line losses, and voltage control, while observing full AC load flow constraints. We solve the socially optimal day-ahead market (DAM) clearing problem on a distribution feeder containing industrial, commercial and residential sub-feeders serving conventional non-elastic and flexible reschedulable loads and featuring devices capable of using excess capacity relative to their primary use to provide VAr compensation and voltage support. Numerical results on several DAM clearing scenarios elaborate the value of a fully functional distribution market in providing efficient operation incentives, intertemporal scheduling of demand and optimal location signals to distributed renewable generation and last but not least distribution network rent.
Keywords :
distributed power generation; distribution networks; load distribution; power markets; AC load flow constraint; DAM clearing problem; LMP principle; VAr compensation; cost optimization; day-ahead market; distributed generation asset; distributed renewable generation; distribution feeder; distribution market; distribution network connected load; distribution network rent; dynamic power market; flexible reschedulable load; intertemporal scheduling; locational marginal price principle; low-voltage distribution-network participant; marginal cost; optimal location signal; price discovery; reactive power transaction; spatiotemporal reactive power price; voltage support; Capacitors; Load flow; Power electronics; Pricing; Reactive power; Substations; Voltage control; distributed generation; distribution network locational marginal prices; distribution network rent; dual use of power electronics; power flow; reactive power compensation; transformer loss of life; voltage control;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
T&D Conference and Exposition, 2014 IEEE PES
Conference_Location :
Chicago, IL
Type :
conf
DOI :
10.1109/TDC.2014.6863212
Filename :
6863212
Link To Document :
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