Economic assessment of HVDC project in deregulated energy markets
2008 Third International Conference on Electric Utility Deregulation and Restructuring and Power Technologies
High Voltage Direct Current (HVDC) transmission technology has become increasingly attractive to deregulated energy markets due to its salient characteristics in comparison with AC transmission. In particular, the precise, fast and flexible controllability of HVDC transmission power flow can greatly improve power grid reliability, utilization and efficiency. In the United States, transmission economic study is a mandatory part of transmission planning processes and energy market simulation
... ams are commonly used for asset utilization assessment, bottleneck identification, and benefit analysis for system expansions. To quantify the benefits of HVDC project in deregulated energy markets, the market simulation tools must be able to adequately represent HVDC operational characteristics, such as controllability and losses. In this paper, economic transmission planning study process involving HVDC project will be discussed. Index Terms--Economic Assessment, HVDC Transmission, Locational Marginal Price (LMP), Market Simulation, Transmission Planning. Shu Wang (S'05, M'07) received his B.S. and M.S. in Electrical Engineering from Tianjin University, Tianjin, China, in 2001 and 2004, respectively. He is presently a consulting engineer with ABB Grid Systems in USA and the main developer of GridView, a market simulation software for generation and transmission planning. His interests include deregulated energy markets, power system reliability assessment, renewable energy and software design for power systems. He can be reached at email@example.com. Jinxiang Zhu (M'97, SM'06) received his B.S. from Tsinghua University and M.S. and PH.D. from North Carolina State University in Electrical Engineering. He is Principal Consultant with ABB Consulting since 2004. He was Senior Engineer with GE Power System Energy Consulting from 1997 to 2004. His industry experiences include market simulation, market power analysis, system planning, operations research, reliability analysis, energy management systems, and bidding strategy. He can be reached at firstname.lastname@example.org. Lan Trinh (M'99) received his M.S. and Ph.D. in Electrical Engineering from Moscow Power Engineering Institute, Russia. Currently he is principal consultant with ABB Consulting. He is responsible for conducting technical and economical studies related to transmission and generation expansion projects, including reliability assessment; power market simulation; transient, dynamic and stability studies. He can be reached at email@example.com. Jiuping Pan (M'97, SM'04) received his B.S. and M.S. in Electric Power Engineering from Shandong University, China and his Ph.D. in Electrical Engineering from Virginia Tech, USA. He is currently a principal consulting R&D engineer with ABB Corporate Research in USA. His expertise includes power system modeling and analysis, HVDC transmission, system expansion planning, energy market issues and simulation studies. He can be reached at firstname.lastname@example.org.