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• W2076459468 abstract "Electricity market clearing is currently done using deterministic values of power system parameters considering a fixed network configuration. This paper presents a new day-ahead joint market clearing framework (including energy, spinning reserve and non-spinning reserve auctions), which considers dynamic security of power system in the market clearing. The proposed framework has a stochastic multiobjective model considering power system uncertainties. It consists of three stages. Firstly, the uncertainty sources, i.e. contingencies of generating units and branches, are modeled using the Monte Carlo simulation (MCS) method. Subsequently, in the second stage, the proposed multiobjective framework simultaneously optimizes competing objective functions of offer cost and dynamic security index, i.e. corrected transient energy margin (CTEM). This index is selected because of useful linearity properties which it posses based on the sensitivity of the CTEM with respect to power shift between generators. The optimization problem in the second stage takes DC power flow constraints and system reserve requirements into account. Finally, in the last stage, scenario aggregation based on the expected value of the decision variables produces the final results of the market clearing framework. The 10-machine New England test system is studied to demonstrate effectiveness of the proposed stochastic multiobjective market clearing scheme." @default.
• W2076459468 created "2016-06-24" @default.
• W2076459468 creator A5044090625 @default.
• W2076459468 creator A5048612159 @default.
• W2076459468 date "2012-02-01" @default.
• W2076459468 modified "2023-09-26" @default.
• W2076459468 title "A scenario-based multiobjective operation of electricity markets enhancing transient stability" @default.
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• W2076459468 doi "https://doi.org/10.1016/j.ijepes.2011.10.004" @default.
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