Abstract
In this article, a new algorithm for determination of short run marginal cost (SRMC) for feasible bilateral transactions using optimal power flow (OPF) solution has been presented. Determination of SRMC using conventional methods suffer due to the presence of non-smooth fuel cost generators in the modern deregulated utilities. Hence in this article, evolutionary programming (EP) based OPF solution has been developed for obtaining optimal generator settings with four non-smooth fuel functions. System transmission loss and penalty factor at each and every bus are computed using the OPF solution. Further bus incremental cost at all the buses is computed using penalty factors. Generalized loss coefficients are also obtained from OPF solution and they are the functions of the system operating state with non-smooth fuel functions. The performance of the proposed algorithm has been validated with IEEE 30 bus and Indian utility 62-bus practical test systems.
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