NDLI: Enhancing Corrected Transient Energy Margin in Electricity Energy Market Operation Using Stochastic Multiobjective Mathematical Programming

Content Provider	IEEE Xplore Digital Library
Author	Aghaei, J. Mahboubi-Moghaddam, E. Muttaqi, K.M.
Copyright Year	2007
Abstract	In this paper, a new stochastic multiobjective model for the market clearing of the joint energy and reserve auctions is proposed wherein both supply and demand sides can participate as reserves. The proposed framework considers the dynamic security aspect of the power system in the scenario-based market operation. To solve the problem, first, on the basis of lattice Monte Carlo simulation, different scenarios are generated to model the uncertainties of power system (including generating units and transmission line contingencies). Then, the competing objective functions of the proposed framework, including the expected social welfare function and expected corrected transient energy margin (CTEM), are simultaneously optimized for each scenario in the multiobjective framework. To calculate the CTEM, a sensitivity analysis based on the ac power flow formulation is incorporated before solving the optimization problem of the market clearing. The optimization problem is solved considering dc power flow constraints and system reserve requirements. Eventually, the scenarios are aggregated based on the expected value of decision variables to produce the final results of the market clearing framework. The model is applied to the New England test system, and simulation studies are implemented to demonstrate the effectiveness of the proposed method.
Sponsorship	IEEE Systems Council
Starting Page	1419
Ending Page	1429
Page Count	11
File Size	492931
File Format	PDF
ISSN	19328184
Volume Number	9
Issue Number	4
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2015-01-01
Publisher Place	U.S.A.
Access Restriction	One Nation One Subscription (ONOS)
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Stochastic processes Security Power system stability Uncertainty Optimization Transient analysis stochastic framework Corrected transient energy margin (CTEM) Monte Carlo simulation market clearing multiobjective mathematical programming
Content Type	Text
Resource Type	Article
Subject	Computer Networks and Communications Control and Systems Engineering Information Systems Electrical and Electronic Engineering Computer Science Applications

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