A novel cost reducing reactive power market structure for modifying mandatory generation regions of producers

Ahmadimanesh, Alireza; Kalantar, Mohsen

doi:10.1016/j.enpol.2017.06.046

Cited by 16 publications

(5 citation statements)

References 32 publications

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“…Jay and Swarup [56] propose a market clearing where providers are not only paid by their EPF but also by their value for grid operation. Ahmadimanesh and Kalantar [52] consider reactive power losses caused by active power feedin of the market participants in the market clearing, which increases fairness of the market result. Later in [53], they refine their approach and discuss multiple variants of it.…”

Section: A Opf-based Marketsmentioning

confidence: 99%

Reactive Power Markets: A Review

2022

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Liberalization of the energy system sets the way towards market-based solutions for ancillary service provision. Local reactive power markets are envisioned to achieve more economically and technically efficient reactive power provision to solve voltage control problems in future distribution and transmission grids. However, market-based reactive power procurement is a difficult and yet unsolved problem. This survey provides a comprehensive overview of the characteristics and hardships of reactive power markets. That is followed by a literature overview of reactive power market design, including local markets and markets on system operator level. Further, methods how to analyse reactive power markets are discussed, focusing on market power, game theoretical approaches, Reinforcement Learning, and manipulation of reactive power markets. From this overview, trends and current research gaps are derived and some general research recommendations are given to serve as a guideline for future research in the field of reactive power markets.

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Section: A Opf-based Marketsmentioning

confidence: 99%

Reactive Power Markets: A Review

2022

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“…Also, according to Figure ,

Q_{\begin{matrix} base \end{matrix}}

is generators reactive power required for its auxiliary equipment,

Q_{\begin{matrix} normalA \end{matrix}}

and

Q_{\begin{matrix} normalB \end{matrix}}

are the maximum allowable reactive power limit with a reduction in real power generation …”

Section: Case Studymentioning

confidence: 99%

“…Fair distribution of power compensation services using a nodal pricing method is provided while meeting incentives to improve the investment in reactive compensation in critical areas. The total costs of system operation and power network losses are controlled by a novel structure presented . The power network total costs are modified in Reference by providing a structure to define the reactive power compensation costs consists of an availability cost, cost of losses and opportunity cost of active power generation.…”

Section: Introductionmentioning

confidence: 99%

Development of a multi‐objective framework for the separate active and reactive power market clearing with index‐based vision

Sahraie

Zakariazadeh

Gholami

2019

Int Trans Electr Energ Syst

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Summary In this paper, a new multi‐objective power market clearing framework with index‐based vision is proposed in order to flexibly cover various aspects of the power market, simultaneously. Separate clearing constraints and a weighting strategy are also implemented along with the proposed clearing framework aiming at considering the importance of the power market and network‐based indices. Also, a number of applicable indices are integrated into the objective functions. These indices which help with improving the quality of the power market clearing are to control on the market total cost, market profitability rate, discrimination among market players, dispersion in the net surplus and revenue among market players, players participation tendency in the power market, and the market power potential. Moreover, voltage stability constraints have been introduced to improve the proposed framework. The proposed framework is used to clear the separate reactive power market (SRPM) as a case study and is tested on 24‐bus IEEE reliability test system (RTS). The problem is solved by a non‐dominated sorting genetic algorithm (NSGA‐II). The results evidence that the proposed market clearing framework significantly improves the performance of the power market clearing.

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“…In addition, a retailer's risk is modeled based on the conditional value at risk (CVAR) of pro t. Customer's response to retailer price and competition among retailers is considered in the proposed bi-level model. In reference [14,15], by integrating the Demand response program in the short-term retailer decision, the retailer has tried, in addition to the short-run activities, to have an offer of optimal sales with the joint operation of the wind system and The solar system comes with an energy storage system. The uncertainty in the day-ahead market price and wind and solar energy products is one of the main characteristics of this proposal for sale.…”

Section: Introductionmentioning

confidence: 99%

Stochastic coordination of the wind and solar energy using energy storage system based on real-time pricing

Saeedi

Hosseini

2022

Soft Comput

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In this paper, Stochastic synchronization of the Wind and Solar Energy Using Energy Storage system based on real-time pricing in the Day Ahead-Market Along with taking advantage of the potential of Demand Response programming, has been analyzed. Since renewables energies, loads and prices are uncertain, and planning is based on real-time pricing, the optimal biding proposition considers the wind power, solar system, and energy storage system. Uncertainty is addressed to solve the bidding strategy in a day-ahead market for optimal wind and PV power and optimal charging for energy storage. Batteries are the most promising device to compensate for the uctuations of wind and photovoltaic power plants to mitigate their uncertainty. In general, using MILP is a suitable approach to address uncertainty as long as a linear formulation is acceptable for modeling either with continuous variables or integer ones. By setting some scenarios to formulate market prices, imbalance of energy, wind and solar system, the uncertainty problems could be easily solved by MILP solver.The model created enables the retailer to realize the potentials of the demand response program and exploit high technical and economic advantages. To ensure fair prices, a set of regulating constraints is considered for sales prices imposed by the regulation committees. A model is presented to optimize the electricity trading strategy in the electricity market, considering the uncertainty in the wholesale market price and the demand level. The retailer considered in this paper is a distribution company that is the owner and operator of the networks and operates under real-time pricing regulations. To model demand response, the elasticity coe cient is used. The proposed solution is implemented on a standard 144-bus sample network using a nonlinear integer programming method. The presented method results provide helpful and valuable information based on the optimal method proposed by the retailers considering the Demand response program and real-time pricing (RTP) system.

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A novel cost reducing reactive power market structure for modifying mandatory generation regions of producers

Cited by 16 publications

References 32 publications

Reactive Power Markets: A Review

Reactive Power Markets: A Review

Development of a multi‐objective framework for the separate active and reactive power market clearing with index‐based vision

Stochastic coordination of the wind and solar energy using energy storage system based on real-time pricing

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