Optimal Dispatch of Energy/Reserve in Restructured Electricity Market with Demand Variations
DOI:
https://doi.org/10.18486/ijcsnt/3.1.032Keywords:
Dynamic Energy and Reserve Dispatch (DERD), Inelastic Load, MATLAB Optimization Toolbox, Ramp Rate Limits, Sectional Price CharacteristicsAbstract
The electrical power system plays a crucial role in the development of a country. The power systems are being restructured all over the world to improve efficiency and enhance performance by encouraging competition among various agencies involved in the generation, transmission and distribution of electrical power. Operating reserve plays a significant role in maintaining reliability and security of power supply under constant demand variations. The optimal energy and reserve dispatch routine allocates energy and reserve to different players in such a manner that total cost is minimized and all system constraints are satisfied. In traditional vertically integrated electricity markets reserve is dispatched after completing the energy dispatch but in the competitive market a simultaneous dispatch of energy/reserve is carried out. For this, separate price bids are submitted by power companies for energy and reserve. In this paper a constrained optimization solver ‘fmincon’ using the MATLAB optimization tool box is employed for computing the optimal energy/reserve dispatch schedules under dynamic conditions with power balance constraint, generation and reserve min/max capacity constraints, ramp-up/down limits, and energy- reserve-coupling constraints. The proposed algorithm is tested on 17 generating unit, IEEE 57 bus system. Three different test cases are simulated and the proposed method is found to produce feasible results with full satisfaction of complex equality/inequality constraints.
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