A pricing and dispatch engine for wholesale electricity market using Quadratic Programming

Author

Tiwari, Ashutosh ; Van Acker, Vincent ; Nieuwesteeg, Peter ; Cheung, Kwok

Author_Institution

Dept. of Electr. & Comput. Eng., Iowa State Univ., Ames, IA

fYear

2008

fDate

6-9 April 2008

Firstpage

329

Lastpage

334

Abstract

The purpose of this paper is to demonstrate that quadratic programming (QP) based solvers are a valid if not a better alternative to the linear programming (LP) based solvers in price based economic dispatch (PBED) engines. These engines are subject to rigorous performance and accuracy requirements when used in large size wholesale electricity markets. To date, most market clearing engine solvers are LP based. In this paper PBED is formulated as QP problem. The results of a study are shown comparing the results and performance of LP based PBED and QP based PBED on a large size test market system.

Keywords

linear programming; load dispatching; power markets; power system economics; pricing; quadratic programming; linear programming; price based economic dispatch engines; pricing-dispatch engine; quadratic programming; wholesale electricity market; Costs; Electricity supply industry; Engines; Environmental economics; Large-scale systems; Piecewise linear approximation; Piecewise linear techniques; Power generation economics; Pricing; Quadratic programming; Linear programming; Locational Marginal Price (IMP); market clearing; quadratic programming;

fLanguage

English

Publisher

ieee

Conference_Titel

Electric Utility Deregulation and Restructuring and Power Technologies, 2008. DRPT 2008. Third International Conference on

Conference_Location

Nanjuing

Print_ISBN

978-7-900714-13-8

Electronic_ISBN

978-7-900714-13-8

Type

conf

DOI

10.1109/DRPT.2008.4523427

Filename

4523427