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Mathematical and Computational Applications is published by MDPI from Volume 21 Issue 1 (2016). Articles in this Issue were published by another publisher in Open Access under a CC-BY (or CC-BY-NC-ND) licence. Articles are hosted by MDPI on mdpi.com as a courtesy and upon agreement with the previous journal publisher.
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Math. Comput. Appl. 2010, 15(1), 25-33; https://doi.org/10.3390/mca15010025

Determining Spot Price and Economic Dispatch in Deregulated Power Systems

Electrical & Electronics Engineering Department, Selcuk University, 42075 Konya, Turkey
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Published: 1 April 2010
PDF [151 KB, uploaded 1 April 2016]

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.
Keywords: Deregulated Power Systems; Spot Price; Cost Minimization; Economic Load Dispatch Deregulated Power Systems; Spot Price; Cost Minimization; Economic Load Dispatch
This is an open access article distributed under the Creative Commons Attribution License (CC BY 3.0).
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Urkmez, A.; Cetinkaya, N. Determining Spot Price and Economic Dispatch in Deregulated Power Systems. Math. Comput. Appl. 2010, 15, 25-33.

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