Mitigation of transmission line jamming by price intrusion technique in competitive electricity market

Abstract

ABSTRACT In the past years of the electric market, very big corporation companies enjoyed domination or monopoly and takes complete responsibility for generating the electric power. In the new-age market electricity grid faces several techno-commercial challenges like power outage, conductor snag, equipment rundown, transmission congestion, financial constraint, price settlement issue, etc, so this cause transfer of generated electricity from generating station to load becomes a challenge. Also, transmission jamming or congestion is an issue that leads to catastrophe if not mitigated. Therefore to avoid such issues different techno-financial methods are adopted in a particular electricity zone with a large network. In this paper, we adopted an innovative technique to control the electricity transfer limit. Here an analytic tool based on the price-sensitive algorithm is developed to determine a suitable combination of Financial Transmission Rights (FTR) and Location-based low prices with curtailments in a competitive electricity market. The significant objective of this technique is to minimise the dispatch of low-cost generators and overall operational expenses thereby mitigating the traffic issue in a particular load node or zone. Finally, the transmission congestion mitigation is discussed with price sensitivity technique and with a proper financial mechanism like FTR with location pricing in a particular zone.