NDLI: A new high accuracy method for calculation of LMP as a random variable

Content Provider	IEEE Xplore Digital Library
Author	Nezhad, A.R. Mokhtari, G. Davari, M. Araghi, A.R. Hosseinian, S.H. Gharehpetian, G.B.
Copyright Year	2009
Description	Author affiliation: Department of Electrical Engineering, Amirkabir University of Technology, Tehran, Iran (Nezhad, A.R.; Mokhtari, G.; Davari, M.; Araghi, A.R.; Hosseinian, S.H.; Gharehpetian, G.B.)
Abstract	The Locational Marginal Pricing (LMP) is a dominant approach in energy market operation and planning to identify the nodal price and to manage the transmission congestion. Considering the uncertainties associated with the input data of load flow, the LMP can be considered as a stochastic variable. Therefore calculation of LMP as a random variable can be very useful in power market forecasting studies. In this paper, LMP has been calculated with Cumulant & Gram-Charlier (CGC) method and compared with Monte Carlo and point estimation method. This method combines the concept of Cumulants and Gram-Charlier expansion theory to obtain Probabilistic Distribution Functions (PDF) and Cumulative Distribution Function (CDF) of LMP. It has significantly reduced the computational time while maintaining a high degree of accuracy. The method described in this paper applied to PJM test system. The sensitivity of LMP with variation of load has also been calculated and compared with deterministic calculation.
Starting Page	1
Ending Page	5
File Size	729220
Page Count	5
File Format	PDF
ISBN	9781424454778
e-ISBN	9781424454778
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2009-11-10
Publisher Place	United Arab Emirates
Access Restriction	Subscribed
Rights Holder	College of Engineering
Subject Keyword	Accuracy Uncertainty Stochastic processes Pricing Economic forecasting Power markets Random variables Energy management Distribution functions Load flow
Content Type	Text
Resource Type	Article

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