Abstract
This paper utilizes a bifurcation approach to compute oscillatory stability constrained available transfer capability (ATC) in an electricity market having bilateral as well as multilateral transactions. Oscillatory instability in non-linear systems can be related to Hopf bifurcation. At the Hopf bifurcation, one pair of the critical eigenvalues of the system Jacobian reaches imaginary axis. A new optimization formulation, including Hopf bifurcation conditions, has been developed in this paper to obtain the dynamic ATC. An oscillatory stability based contingency screening index, which takes into account the impact of transactions on severity of contingency, has been utilized to identify critical contingencies to be considered in determining ATC. The proposed method has been applied for dynamic ATC determination on a 39-bus New England system and a practical 75-bus Indian system considering composite static load as well as dynamic load models.
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