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Enhancing corrected transient energy margin in electricity energy market operation using stochastic multiobjective mathematical programming

Journal Article


Abstract


  • In this paper, a new stochastic multiobjective model for the market clearing of the joint energy and reserve auctions is proposed wherein both supply and demand sides can participate as reserves. The proposed framework considers the dynamic security aspect of the power system in the scenario-based market operation. To solve the problem, first, on the basis of lattice Monte Carlo simulation, different scenarios are generated to model the uncertainties of power system (including generating units and transmission line contingencies). Then, the competing objective functions of the proposed framework, including the expected social welfare function and expected corrected transient energy margin (CTEM), are simultaneously optimized for each scenario in the multiobjective framework. To calculate the CTEM, a sensitivity analysis based on the ac power flow formulation is incorporated before solving the optimization problem of the market clearing. The optimization problem is solved considering dc power flow constraints and system reserve requirements. Eventually, the scenarios are aggregated based on the expected value of decision variables to produce the final results of the market clearing framework. The model is applied to the New England test system, and simulation studies are implemented to demonstrate the effectiveness of the proposed method.

UOW Authors


  •   Aghaei, Jamshid (external author)
  •   Mahboubi-Moghaddam, Esmaeil (external author)
  •   Muttaqi, Kashem

Publication Date


  • 2015

Citation


  • J. Aghaei, E. Mahboubi-Moghaddam & K. M. Muttaqi, "Enhancing corrected transient energy margin in electricity energy market operation using stochastic multiobjective mathematical programming," IEEE Systems Journal, vol. 9, (4) pp. 1419-1429, 2015.

Scopus Eid


  • 2-s2.0-84958764528

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/3514

Has Global Citation Frequency


Number Of Pages


  • 10

Start Page


  • 1419

End Page


  • 1429

Volume


  • 9

Issue


  • 4

Place Of Publication


  • United States

Abstract


  • In this paper, a new stochastic multiobjective model for the market clearing of the joint energy and reserve auctions is proposed wherein both supply and demand sides can participate as reserves. The proposed framework considers the dynamic security aspect of the power system in the scenario-based market operation. To solve the problem, first, on the basis of lattice Monte Carlo simulation, different scenarios are generated to model the uncertainties of power system (including generating units and transmission line contingencies). Then, the competing objective functions of the proposed framework, including the expected social welfare function and expected corrected transient energy margin (CTEM), are simultaneously optimized for each scenario in the multiobjective framework. To calculate the CTEM, a sensitivity analysis based on the ac power flow formulation is incorporated before solving the optimization problem of the market clearing. The optimization problem is solved considering dc power flow constraints and system reserve requirements. Eventually, the scenarios are aggregated based on the expected value of decision variables to produce the final results of the market clearing framework. The model is applied to the New England test system, and simulation studies are implemented to demonstrate the effectiveness of the proposed method.

UOW Authors


  •   Aghaei, Jamshid (external author)
  •   Mahboubi-Moghaddam, Esmaeil (external author)
  •   Muttaqi, Kashem

Publication Date


  • 2015

Citation


  • J. Aghaei, E. Mahboubi-Moghaddam & K. M. Muttaqi, "Enhancing corrected transient energy margin in electricity energy market operation using stochastic multiobjective mathematical programming," IEEE Systems Journal, vol. 9, (4) pp. 1419-1429, 2015.

Scopus Eid


  • 2-s2.0-84958764528

Ro Metadata Url


  • http://ro.uow.edu.au/eispapers/3514

Has Global Citation Frequency


Number Of Pages


  • 10

Start Page


  • 1419

End Page


  • 1429

Volume


  • 9

Issue


  • 4

Place Of Publication


  • United States