DCOPF-Based LMP Simulation: Algorithm, Comparison With ACOPF, and Sensitivity

The locational marginal pricing (LMP) methodology has become the dominant approach in power markets. Moreover, the dc optimal power flow (DCOPF) model has been applied in the power industry to calculate locational marginal prices (LMPs), especially in market simulation and planning owing to its robu...

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Vydané v:IEEE transactions on power systems Ročník 22; číslo 4; s. 1475 - 1485
Hlavní autori: Li, Fangxing, Bo, Rui
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: New York IEEE 01.11.2007
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Predmet:
Algorithm design and analysis
Algorithms
Buses (vehicles)
Computer simulation
DCOPF
Demand
Direct current
Electricity distribution
energy markets
fictitious nodal demand (FND)
Independent system operators
Iterative algorithms
Iterative methods
Load flow
locational marginal pricing (LMP)
marginal loss pricing
Markets
Mathematical models
Nonlinear equations
optimal power flow (OPF)
Power industry
Power markets
Power system modeling
power system planning
Pricing
Robustness
sensitivity analysis
ISSN:0885-8950, 1558-0679
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Shrnutí:The locational marginal pricing (LMP) methodology has become the dominant approach in power markets. Moreover, the dc optimal power flow (DCOPF) model has been applied in the power industry to calculate locational marginal prices (LMPs), especially in market simulation and planning owing to its robustness and speed. In this paper, first, an iterative DCOPF-based algorithm is presented with the fictitious nodal demand (FND) model to calculate LMP. The algorithm has three features: the iterative approach is employed to address the nonlinear marginal loss; FND is proposed to eliminate the large mismatch at the reference bus if FND is not applied; and an offset of system loss in the energy balance equation is proved to be necessary because the net injection multiplied by marginal delivery factors creates doubled system loss. Second, the algorithm is compared with ACOPF algorithm for accuracy of LMP results at various load levels using the PJM 5-bus system. It is clearly shown that the FND algorithm is a good estimate of the LMP calculated from the ACOPF algorithm and outperforms the lossless DCOPF algorithm. Third, the DCOPF-based algorithm is employed to analyze the sensitivity of LMP with respect to the system load. The infinite sensitivity or step change in LMP is also discussed.
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ISSN:0885-8950
1558-0679
DOI:10.1109/TPWRS.2007.907924