Abstract
This paper introduces the concept of distributed loss model for calculation of Locational Marginal Price (LMP) in electricity markets on the basis of Optimal Power Flow (OPF). This model has also been presented to address the mismatch issue at system reference bus. The DC Optimal Power Flow (DCOPF) model has been evaluated in this paper to calculate the Locational Marginal Price (LMP). Moreover AC Optimal Power Flow (ACOPF) model has also been used for comparison purpose. But to overcome the drawback of lossless DCOPF algorithm, distributed loss based DCOPF model has been proposed and compared with other OPF techniques. IEEE 30 bus system is used in power world simulator for LMP calculation.
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