ASSESSMENT OF LOCATIONAL MARGINAL PRICE SCHEMES FOR TRANSMISSION CONGESTION MANAGEMENT IN A DEREGULATED POWER SYSTEM

Muhammad Bachtiar Nappu (2009). ASSESSMENT OF LOCATIONAL MARGINAL PRICE SCHEMES FOR TRANSMISSION CONGESTION MANAGEMENT IN A DEREGULATED POWER SYSTEM MPhil Thesis, School of Information Technology and Electrical Engineering, The University of Queensland.

       
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n41330465_MPhil_abstract.pdf Abstract application/pdf 28.57KB 5
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Author Muhammad Bachtiar Nappu
Thesis Title ASSESSMENT OF LOCATIONAL MARGINAL PRICE SCHEMES FOR TRANSMISSION CONGESTION MANAGEMENT IN A DEREGULATED POWER SYSTEM
School, Centre or Institute School of Information Technology and Electrical Engineering
Institution The University of Queensland
Publication date 2009-02
Thesis type MPhil Thesis
Supervisor Prof Tapan Kumar Saha
Total pages 196
Total colour pages 31
Total black and white pages 165
Subjects 09 Engineering
Abstract/Summary The growth of electricity markets around the world has introduced new challenges in which one of the challenges is the uncertainty that has become a structural element in this new environment. Market players have to deal with it to guarantee the appropriate power system planning and operation as well as its own economical liquidity. Under an open access environment in a deregulated power system, transmission management holds a vital role in supporting transactions between suppliers and customers. Nevertheless, a transmission network has some constraints that should be addressed in order to ensure sufficient control to maintain the security level of a power system while maximizing market efficiency. The most obvious drawback of transmission constraints is a congestion problem that becomes an obstacle of perfect competition among the market participants since it can influence spot market pricing. The system becomes congested when the supplier and customer agree to produce and consume a particular amount of electric power, but this can cause the transmission network to exceed its thermal limits. Congestion can cause the market players to exercise market power that can result in price volatility beyond the marginal costs. Thus, it is important to manage congestion efficiently in the design of a power market. One mechanism that has direct correlation with transmission management is market clearing price (MCP). Under an open access environment, energy prices throughout the network will be different and measured based on transmission constraint and network losses. When network losses are ignored and there is no congestion on the transmission lines, the power price will be the same at all nodes. This is known as uniform marginal pricing (UMP). However, as the power flow violates transmission constraints, redispatching generating units is required and this will cause the price at every node to vary. This phenomenon is defined as locational marginal pricing (LMP). Therefore, the market clearing price has a strong relationship with transmission management, which is needed to be assessed in order to obtain an efficient and transparent price but satisfying all market participants. This project investigates an alternative solution to the dispatch mechanism, and then formulates a new Locational Marginal Price scheme using optimization technique that may well control congestion as the main issue. The model will vary and be improved, to be distilled into energy price, congestion revenue, cost of losses, as well as transmission usage tariff. The objective of the project is to support developing standard market design (SMD) in managing transmission systems which promotes economic efficiency, lowers delivered energy costs, maintains power system reliability and mitigates exercising market power.
Keyword Economic Dispatch
Optimal Power Flow
Electricity Market
Transmission Congestion
Deregulated Power System
Locational Marginal Prices
Transmission Lines
Transmission Usage Tariff
Transmission Losses
Transmission Management
Transmission Congestion Management
Energy Prices
Nodal Pricing
Additional Notes List of colour page number: 24, 38, 39, 68, 91-94, 119,120, 127, 132, 137,138, 140, 141, 142, 149, 153, 155, 157, 159, 160, 162, 180-196 List of landscape page numbers (all of them are colour): 138, 142, 159, 160

 
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Created: Tue, 06 Oct 2009, 18:41:36 EST by Mr Muhammad Bachtiar Nappu on behalf of Library - Information Access Service