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Market-clearing for pricing system security based on voltage stability criteria

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  • Kim, M.K.
  • Park, J.K.
  • Nam, Y.W.

Abstract

This paper presents a novel technique for representing system security in the operation of decentralized electricity markets, with special emphasis on voltage stability. The market-clearing algorithm is modeled as voltage stability constrained-optimal power flow (VSC-OPF) problem for providing market solutions by means of a function of complying with the required voltage stability criteria. Benders’ decomposition is applied for solving the VSC-OPF incorporating post-contingency control actions, which is motivated by the improvement of computational efficiency using parallel processing. The proposed VSC-OPF framework also takes into consideration the bilateral contract information, which is integrated into the market-clearing process and, at the same time, the optimal pricing expressions through computing local marginal prices (LMPs) with respect to ensuring voltage stability are derived. VSC-OPF is tested on the IEEE 14-bus benchmark system and the results obtained, when compared to those obtained by means of a conventional OPF, show that the proposed technique is able to improve system security while yielding better market solutions and total transaction levels.

Suggested Citation

  • Kim, M.K. & Park, J.K. & Nam, Y.W., 2011. "Market-clearing for pricing system security based on voltage stability criteria," Energy, Elsevier, vol. 36(2), pages 1255-1264.
    • Handle: RePEc:eee:energy:v:36:y:2011:i:2:p:1255-1264
    DOI: 10.1016/j.energy.2010.11.019
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    References listed on IDEAS

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    Cited by:

    1. Ahmed Al-Shafei & Hamidreza Zareipour & Yankai Cao, 2022. "High-Performance and Parallel Computing Techniques Review: Applications, Challenges and Potentials to Support Net-Zero Transition of Future Grids," Energies, MDPI, vol. 15(22), pages 1-58, November.
    2. Kim, H.Y. & Kim, M.K., 2017. "Optimal generation rescheduling for meshed AC/HIS grids with multi-terminal voltage source converter high voltage direct current and battery energy storage system," Energy, Elsevier, vol. 119(C), pages 309-321.
    3. Ho-Young Kim & Mun-Kyeom Kim & San Kim, 2017. "Multi-Objective Scheduling Optimization Based on a Modified Non-Dominated Sorting Genetic Algorithm-II in Voltage Source Converter−Multi-Terminal High Voltage DC Grid-Connected Offshore Wind Farms wit," Energies, MDPI, vol. 10(7), pages 1-21, July.

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