Review of methods to calculate congestion cost allocation in deregulated electricity market

Jiawei Zhao, Jianfeng Lu, Kwok Lun Lo

Research output: Contribution to journalArticle

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Abstract

With maturing deregulated environment for electricity market, cost of transmission congestion becomes a major issue for power system operation. Uniform Marginal Price and Locational Mar-ginal Price (LMP) are the two practical pricing schemes on energy pricing and congestion cost allo-cation, which are based on different mechanisms. In this paper, these two pricing schemes are in-troduced in detail respectively. Also, the modified IEEE-14-bus system is used as a test system to calculate the allocated congestion cost by using these two pricing schemes.
Original languageEnglish
Article number3D
Pages (from-to)16-26
Number of pages11
JournalWorld Journal of Engineering and Technology
Volume4
Issue number3D
DOIs
Publication statusPublished - 20 Oct 2016
Event6th World Congress on Engineering and Technology: 6th Power Engineering and Automation Conference - Shanghai, China
Duration: 21 Oct 201623 Oct 2016

Keywords

  • deregulated electricity market
  • transmission congestion management
  • congestion cost allocation
  • uniform marginal price
  • locational marginal price
  • power system operation
  • energy pricing
  • modified IEEE-14-bus system

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