A new congested flowgate ranking strategy in MISO Market Efficiency Planning Study

Author

Rui Bo ; Hecker, Liangying ; Yang Gu ; Okullo, James ; Bakke, Jordan ; Ming Ni

Author_Institution

Midwest Indep. Transm. Syst. Operator (MISO), St. Paul, MN, USA

fYear

2013

fDate

21-25 July 2013

Firstpage

1

Lastpage

5

Abstract

In MISO Market Efficiency Planning Study, a critical task is to pick from congested flowgates the ones that have the most potential economic benefits. A new ranking strategy, Estimated Potential Benefit (EPB), is proposed. To compare the performance of the new proposed ranking strategy with commonly used ones, ranking correctness index is introduced as a quantitative measure. EPB not only has the most comparable physical meaning to the actual potential benefit, but also has been verified to outperform other ranking strategies, especially when only the very top ranked flowgates are to be picked.

Keywords

power markets; power transmission economics; power transmission planning; EPB; MISO market efficiency planning study; congested flowgates; estimated potential benefit; ranking correctness index; ranking strategy; Computational modeling; Economics; Indexes; Mathematical model; Planning; Production; Software; congested flowgates; cost allocation; economic benefit; flowgate ranking; power markets;

fLanguage

English

Publisher

ieee

Conference_Titel

Power and Energy Society General Meeting (PES), 2013 IEEE

Conference_Location

Vancouver, BC

ISSN

1944-9925

Type

conf

DOI

10.1109/PESMG.2013.6672487

Filename

6672487