Dissertation
Pricing of electricity: network optimization and stability
Doctor of Philosophy (Ph.D.), Drexel University
Mar 2014
DOI:
https://doi.org/10.17918/etd-4437
Abstract
The constrained optimization problem of electricity pricing and its optimal solution lie at the core of any operating electricity market. Electricity prices at the nodal (bus) level provide more granular form of economic signals to the market participants, so as to help them make better economic decisions. This way, allocation of scarce resources can be done more efficiently. Since the electricity market operation is based on a particular transmission system, the underlying network plays an important role in the formation of final market prices. Using novel null space methods, we showed a more efficient way of pricing electricity, provided that we have a priori knowledge of binding transmission lines and/or voltage limits. This method does not require selection of a reference system bus, and thus is computationally more efficient. Observations of numerical results from the application of this method to IEEE test systems reveal some promise. The application of this method to larger real-world power system is more challenging. We also investigated the optimization of voltage stability-constrained market clearing prices. When these constraints are considered and incorporated into the current optimization problem, the optimal prices can be quite different from the case without voltage stability-constraints. Our understanding of interaction between electricity market operations and voltage stability is quite limited. More research work is needed to better understand about the complexinteraction between voltage stability and electricity market.
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Details
- Title
- Pricing of electricity
- Creators
- Jeremy Lin - DU
- Contributors
- Dagmar Niebur (Advisor) - Drexel University (1970-)
- Awarding Institution
- Drexel University
- Degree Awarded
- Doctor of Philosophy (Ph.D.)
- Publisher
- Drexel University; Philadelphia, Pennsylvania
- Resource Type
- Dissertation
- Language
- English
- Academic Unit
- College of Engineering (1970-2026); Electrical (and Computer) Engineering (1970-2026); Drexel University
- Other Identifier
- 4437; 991014632077504721