Abstract
This paper presents a new formula for determining spot price and a new algorithm for economic dispatch in deregulated power systems. According to participant’s biddings, an independent system operator (ISO) manages deregulated power systems (DPS) and decides transaction between participants. ISO aims to obtain minimum cost for entire power system. However each participant aims to work with minimum cost for only themselves. Each participant in DPS shares expensive operating and upkeep costs. Energy sources are used more efficient. Energy prices are determined according to the costs. The proposed algorithm considers price / power bids, generating / demand balance and generating units’ constraints. The results are shown on the IEEE 30 bus standart test system.
Highlights
In recent years the electric power industry has been undergoing unprecedented restructuring all over the world [1]
In this paper we presented a new algorithm for determining spot price and economic load dispatch in deregulated power systems
We proposed a new formula which is consider participants bids, total load demand and supply power for calculating spot prices
Summary
In recent years the electric power industry has been undergoing unprecedented restructuring all over the world [1]. The relationship between competition requirements and the market structures secondly optimal operation of supply and demand in terms of social welfare [2] In this respect many researcher used different methods for determining spot prices in deregulated power systems. After 1 July 2007, all consumers for EU member country would be free consumer In this respect, required studies must be making in deregulated electricity power market structure and operation for working regularly. Participants can do required investment as confident and in the course of time the participants may find a way more cheap electrical energy production In this respect, in deregulated power market operations, spot price applications and participants’ bids must put into practice together
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