Abstract
This paper examines the impact of power transmission network topology change on locational marginal price (LMP) in real-time power markets. We consider the case where the false status of circuit breakers (CBs) that bypass topology error processing can generate an incorrect power system network topology, subsequently distorting the results of the state estimation and economic dispatch. The main goal of this paper is to assess the economic impact of this misconfigured network topology on real-time LMP in an entire power system with network congestion. To this end, we start with our prior result, a simple and analytical congestion price equation, which can be applied to any single line congestion scenario. This equation can be extended to better understand the degree to which the LMP at any bus changes due to any line status error. Furthermore, it enables a rigorous analysis of the relationship between the change in LMP at any bus with respect to any line error and various physical/economical grid conditions such as the bidding prices for marginal generators and the locations of the congested/erroneous lines. Numerical examples on the impact analysis of this topology error are illustrated in IEEE 14-bus and 118-bus systems.
Highlights
A power system network topology provides information for managing and controlling physical and economical grid operations
We examine the impact of the line exclusion-induced generation shift factors (GSFs) on locational marginal price (LMP) change given fixed marginal costs in all four cases
We develop a closed-form analytical framework to assess LMP change in response to line status error when a single transmission line is congested
Summary
A power system network topology provides information for managing and controlling physical and economical grid operations. The sensitivity of LMP to changes in the costs of marginal units (i.e. marginal costs) and generation shift factors (GSFs) due to a line susceptance error on LMP is analyzed rigorously based on the developed LMP change equation, and the results for all four cases are compared Such impact is quantified at multiple dispatch intervals with the varying load conditions, along with the identification of the influential transmission line and the economically sensitive bus using the proposed system wide performance index. In view of the secure market operation, the simulation results from the proposed framework can be a key input to enhancing power system state estimation, topology error processing, and contingency analysis in EMS and prioritizing the upgrade of sensors that monitor the status of transmission lines.
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