Abstract
This paper proposes a practical method to derive reasonable load prices and wheeling charges in a deregulated power market. The proposed pricing model not only ensures the recovery of expense for utilities, but also provides reasonable electricity prices for consumers. A competitive market environment is defined at the beginning of this paper to include independent power producers (IPPs), utilities and customers. The pricing model is formulated mathematically as a nonlinear optimization problem. Based on the optimal solution, the transmission path can be identified by investigating power flow with respect to generator outputs and load demands through sensitivity analysis. The proposed approach is applied to an IEEE-30 bus system, where the simulation results demonstrated that the proposed pricing strategy can also be used for the transmission congestion and loop flow problems.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Electrical Power and Energy Systems
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
