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Under electricity market operation, the competitiveness of wind power generation may be reduced because of the stochastic nature of the wind resource, which often results in increased regulation costs. The negative impact associated to the stochastic nature of the wind resource may be reduced by coupling the wind farm with energy storage facilities, thus constituting a virtual power plant. In this...
One of the major problems in liberalized power markets is loss allocation. In this paper, a new method for allocating transmission losses to pool market participants is proposed. The proposed method is fundamentally based on Bialek's "Tracing the flow of electricity" method. The losses is allocated to market participants using the loss weight factors (LWFs) which are obtained from the square...
This paper focuses on the application of risk-based models to cogeneration system planning in the presence of uncertainties. Starting from the electrical and thermal load patterns, and the electricity and gas prices for a reference year, the uncertain variables for the successive years of analysis (demand and energy prices) are represented by using average values and covariance matrices, taking into...
The following topics are dealt with: uncertainty forecasting; wind generation; decision making; generation planning; load forecasting; power generation scheduling; ageing model; power system reliability; distributed generation; failure probability; transformer reliability; electricity markets; power equipment optimal allocation; power system protection; power system planning; and HVDC.
Hidden failures in protection schemes, the traditional N - 1 security criterion and the introduction of the electricity market are usually major causes in the recent wide area blackouts. In the present work, we address the reliability analysis of power systems using the Generalized Stochastic Petri Nets (GSPN). The proposed modeling approach considers not only the most common failures of power system...
The electric power market is restructuring to be price-based and auctions are considered a good pricing mechanism to be used. To assure that the market functions satisfactorily, strictness of guarantee of sellers' deliveries and buyers' receipts must be taken care properly by the central coordinator. This paper proposes market mechanisms for single-class auctions, which specifies the minimum strictness...
For many years, the electric power industry treated electricity as a unique commodity sold to costumers. Nowadays, the new electricity industry has identified several key ancillary services. Under this new scenario, the producer's primary goal is the selection of services in which to participate via assessing the potential profits as part of the decision-making. Purchasing additional information can...
Multi-stage decision making, a fundamental tenet of stochastic programming, resonates well with the practice of the electricity markets. The day-ahead market, used to commit the generators, bears uncertainty in the power demand and physical conditions of the generators and transmission lines. The situation becomes less uncertain in the real-time market, where the dispatch is decided. Although traditional...
Spinning contingency reserve is idle capacity connected to the system to ensure reliable system operations in the case of equipment outages. The reserve has an economic value since it reduces the outage costs. In several electricity markets, reserve demand functions have been implemented to take into account the value of reserve in the market clearing process. These often take the form of a step-down...
This paper describes a probabilistic approach for assessing the criticality of bulk transmission system components in the de-regulated electricity market. The proposed method is based on the analysis performed by the Hydro One probabilistic composite system evaluation program and use of a simplified reliability model for the transmission system network. The method accounts for random failures of system...
Sweden was re-regulated in 1996 followed by new laws and regulations. These new circumstances have become incentives to adopt more comprehensive and quantitative analysis methods applied on Electrical Distribution Systems (EDS). This paper provides a systematic presentation of the current risk management at a Distribution System Operator (DSO) as an integrated part of the net planning process. The...
Interruptions in the supply of electricity to customers are inevitable but it is important to measure, monitor and minimize the costs incurred. In this paper it is shown that customer interruption costs (CIC) depend on a variety of factors. They include the type of country and locality in which the interruptions occur. Actual costs depend on the types of appliances that are interrupted and the sectors...
Uncertain wind power forecasts is a disadvantage in an electricity market where the majority of the trading is performed several hours before the actual delivery. This paper presents a model which can be used to study how changes in the trading arrangement-in particular changing the delay time between closure of the spot market and the delivery period or changing the imbalance pricing system-would...
Considerable research has been devoted on the development of decision-making models suitable for tackling decision problems integrating some amount of uncertainty. However, such approaches are either problem-specific, either too general to suit certain problems. In this paper we propose an approach for performing decision-making under uncertainty suitable for problems in which decisions must be made...
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