Title :
The Application of Optimization Technology for Electricity Market Operation
Author :
Sun, David ; Ma, Xingwang ; Cheung, Kwok
Author_Institution :
AREVA T&D Inc., Bellevue, WA
Abstract :
Mathematical optimization provides a formal framework that enables systematic and transparent decision making. Significant progress has been made in recent years in applications of formal optimization techniques for competitive market based resource commitment, scheduling, pricing and dispatch. This paper describes experiences with the application of optimization technology for electricity market operation. Experiences with and the status of the latest development in the security-constrained unit commitment and economic dispatch algorithms are described with references to actual market practices
Keywords :
decision making; optimisation; power generation dispatch; power generation economics; power generation reliability; power generation scheduling; power markets; pricing; competitive market; decision making; economic dispatch algorithms; electricity market operation; formal optimization techniques; grid reliability; locational marginal pricing; optimal power flow; optimization technology; pricing; resource commitment; scheduling; security-constrained unit commitment; Constraint optimization; Costs; Electricity supply industry; Power generation economics; Power system economics; Pricing; Production; Reliability theory; Scheduling; Security; Electricity market operation; formal optimization; locational marginal pricing; optimal power flow; security-constrained unit commitment and economic dispatch;
Conference_Titel :
Transmission and Distribution Conference and Exhibition: Asia and Pacific, 2005 IEEE/PES
Conference_Location :
Dalian
Print_ISBN :
0-7803-9114-4
DOI :
10.1109/TDC.2005.1546904
