Influence of TCSC on congestion and spot price in electricity market with bilateral contract

Acharya, Naresh and Mithulananthan, Nadarajah (2007) Influence of TCSC on congestion and spot price in electricity market with bilateral contract. Electric Power Systems Research, 77 8: 1010-1018. doi:10.1016/j.epsr.2006.08.026


Author Acharya, Naresh
Mithulananthan, Nadarajah
Title Influence of TCSC on congestion and spot price in electricity market with bilateral contract
Journal name Electric Power Systems Research   Check publisher's open access policy
ISSN 0378-7796
Publication date 2007-06
Sub-type Article (original research)
DOI 10.1016/j.epsr.2006.08.026
Volume 77
Issue 8
Start page 1010
End page 1018
Total pages 9
Place of publication Lausanne, Switzerland
Publisher Elsevier Sequoia
Language eng
Subject 0906 Electrical and Electronic Engineering
Abstract This paper presents a quantitative analysis of the effect of TCSC on congestion and spot price in deregulated electricity markets. The paper could also be considered as a comprehensive tutorial on the influence of TCSC in electricity market. A voluntary pool market, where the market participants can trade electricity either via a pool or through bilateral contracts is considered. The electricity market is modeled in an optimal power flow framework with the objective of maximizing the social welfare. In such formulation, the Lagrange operators associated with the equality constraints associated with real power balance give the spot prices of energy at each bus of the system. Studies are carried out with and without TCSC at peak and low loading conditions to capture the influence and to see the effectiveness of TCSC at different loading conditions. The paper further explores the effect of TCSC compensation level on the spot prices and the congestion under varying pool and bilateral loading conditions. A 5-bus test system is used for numerical studies and to showcase the influence of TCSC in an electricity market environment.
Keyword TCSC
Spot price
Congestion management
OPF
Deregulated market
Facts Devices
Optimal Location
Power
Systems
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Information Technology and Electrical Engineering Publications
 
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