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Contribution of transmission and voltage constraints to the formation of locational marginal prices

Lookup NU author(s): Professor Janusz Bialek


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This paper develops analytical formulae for expressing Locational Marginal Prices (LMPs) as the sum of components due to each of transmission and/or voltagebinding constraints using full non-linear Alternating Current (AC) power system model. Each LMP component at a node consists of a price-bonding factor (PBF) multiplied by the marginal price of a corresponding marginal node. Hence PBF represents a price linkage between a marginal and a non-marginal node due to a certain system operating constraint. The aim of the methodology is not to determine LMPs but to decompose them in order to identify particular constraints that are affecting the formation, thereby identifying those lines that may need upgrade. The methodology has been tested on 5-node PJM and 2746-node Polish systems.

Publication metadata

Author(s): Vaskovskaya T, Thakurta PG, Bialek J

Publication type: Article

Publication status: Published

Journal: International Journal of Electrical Power & Energy Systems

Year: 2018

Volume: 101

Pages: 491-499

Print publication date: 01/10/2018

Online publication date: 24/04/2018

Acceptance date: 04/04/2018

ISSN (print): 0142-0615

ISSN (electronic): 1879-3517

Publisher: Elsevier Ltd


DOI: 10.1016/j.ijepes.2018.04.004


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