Determining Spot Price and Economic Dispatch in Deregulated Power Systems
Electrical & Electronics Engineering Department, Selcuk University, 42075 Konya, Turkey
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Math. Comput. Appl. 2010, 15(1), 25-33; https://doi.org/10.3390/mca15010025
Published: 1 April 2010
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.
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MDPI and ACS Style
Urkmez, A.; Cetinkaya, N. Determining Spot Price and Economic Dispatch in Deregulated Power Systems. Math. Comput. Appl. 2010, 15, 25-33. https://doi.org/10.3390/mca15010025
AMA Style
Urkmez A, Cetinkaya N. Determining Spot Price and Economic Dispatch in Deregulated Power Systems. Mathematical and Computational Applications. 2010; 15(1):25-33. https://doi.org/10.3390/mca15010025
Chicago/Turabian StyleUrkmez, Abdullah, and Nurettin Cetinkaya. 2010. "Determining Spot Price and Economic Dispatch in Deregulated Power Systems" Mathematical and Computational Applications 15, no. 1: 25-33. https://doi.org/10.3390/mca15010025
