Design and testing of heuristic for market splitting in electric power exchange

Author

Bichpuriya, Yogesh ; Soman, S.A. ; Apte, P.R.

Author_Institution

Dept. of Electr. Eng., Indian Inst. of Technol. Bombay, Mumbai, India

fYear

2009

fDate

23-26 Jan. 2009

Firstpage

1

Lastpage

5

Abstract

This paper proposes Taguchi´s method for design of experiments to test market splitting algorithm of an electric power exchange. Such a mechanism is required because price-volume pairs of a trader are usually bound by confidentiality requirement and hence not available as test data. We also propose a novel and simple market splitting heuristic considering congestion management problem in a meshed network with incomplete information of the network. Simulation results are reported in the paper.

Keywords

Taguchi methods; design of experiments; power markets; Taguchi method; congestion management problem; design of experiments; electric power exchange; heuristic testing; market splitting algorithm testing; meshed network; Algorithm design and analysis; Design methodology; Electricity supply industry; Financial management; Load management; Paper technology; Power markets; Power system management; Power systems; System testing; Market splitting; Taguchi´s method; power exchange;

fLanguage

English

Publisher

ieee

Conference_Titel

TENCON 2009 - 2009 IEEE Region 10 Conference

Conference_Location

Singapore

Print_ISBN

978-1-4244-4546-2

Electronic_ISBN

978-1-4244-4547-9

Type

conf

DOI

10.1109/TENCON.2009.5395956

Filename

5395956