Physical and Stability Limitations of Transmission Switching in Electricity Markets

Abstract

This paper concentrates on the development of a comprehensive model of transmission switching in stochastic joint energy and reserve market. In this paper, a stochastic joint energy and reserve market with transmission switching considering dynamic constraints has been proposed to minimize the cost of supplying load and reliability expenses and avoid transient instability in line switching. Transmission switching can provide economic benefits compared to other control methods such as generation unit rescheduling or load shedding for contingency management. A stochastic joint energy and reserve market with transmission switching considering dynamic constraints has been proposed to minimize the cost of supplying load and security expenses. Considering dynamic constraints in the proposed model helps the occurrence of transient instability when opening the line in transmission switching action to be avoided. Utilizing a stochastic mix-integer nonlinear programming (SMINLP) model, transmission switching is used during contingencies and steady state to determine optimal required energy and reserve values. To investigate the efficiency of the proposed strategy, IEEE 14-bus test and IEEE 57-bus test systems are studied. According to the obtained results, this strategy decreases energy and reserve marginal prices, as well as reliability cost.