Hybrid optimization of system adequacy management in an electricity market

Yunhu, Luo, Yusheng, Xue, Yin, X., Dong, Zhao Yang, Ledwich, Gerard F., Tingrui, Lu, & Xiaoying, Wang (2007) Hybrid optimization of system adequacy management in an electricity market. In Australasian Universities Power Engineering Conference, 2007 (AUPEC 2007), 9-12 December 2007, Perth, Western Australia.

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System adequacy has been recognized as one of the essential properties of a power market; however, there is no research work to date specifically on integrating demand-side management, demand-side reserve market and supply-side reserve market. To ensure system adequacy and improve the performance of reserve control, the time-of-use (TOU) power price can be employed as a preventive control. Dispatching the supply-side reserve, shedding interruptible loads with low and high price compensation in the demand-side reserve market are considered as emergency or corrective controls after a system event. Based on the different technical and economic properties of the emergency and preventive controls, this paper proposes to quantitatively analyze the performance of different control schemes using an integrated system model. An optimization algorithm is applied to individual emergency controls, preventive controls and the combination of these two controls. Simulation results are presented to validate the effectiveness of the proposed method.

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ID Code: 14283
Item Type: Conference Paper
Refereed: Yes
Keywords: load shedding, power markets, power system economics, power system management
DOI: 10.1109/AUPEC.2007.4548123
ISBN: 9780646494883
Subjects: Australian and New Zealand Standard Research Classification > ENGINEERING (090000) > ELECTRICAL AND ELECTRONIC ENGINEERING (090600) > Power and Energy Systems Engineering (excl. Renewable Power) (090607)
Divisions: Past > QUT Faculties & Divisions > Faculty of Built Environment and Engineering
Copyright Owner: Copyright 2007 IEEE
Copyright Statement: Personal use of this material is permitted. However, permission to reprint/republish this material for advertising or promotional purposes or for creating new collective works for resale or redistribution to servers or lists, or to reuse any copyrighted component of this work in other works must be obtained from the IEEE.
Deposited On: 05 Aug 2008 00:00
Last Modified: 29 Feb 2012 13:40

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