On Computational Issues of Market-Based Optimal Power Flow

Hongye Wang, Carlos E. Murillo-Sanchez, Ray D. Zimmerman, Robert J. Thomas
2007 IEEE Transactions on Power Systems  
The deregulated electricity market calls for robust optimal power flow (OPF) tools that can provide a) deterministic convergence; b) accurate computation of nodal prices; c) support of both smooth and nonsmooth costing of a variety of resources and services, such as real energy, reactive energy, voltages support, etc.; d) full active and reactive power flow modeling of large-scale systems; and e) satisfactory worst-case performance that meets the real-time dispatching requirement. Most prior
more » ... earch on OPF has focused on performance issues in the context of regulated systems, without giving much emphasis to requirements a)-c). This paper discusses the computational challenges brought up by the deregulation and attempts to address them through the introduction of new OPF formulations and algorithms. Trust-regionbased augmented Lagrangian method (TRALM), step-controlled primal-dual interior point method (SCIPM), and constrained cost variable (CCV) OPF formulation are proposed. The new formulations and algorithms, along with several existing ones, are tested and compared using large-scale power system models. Index Terms-Augmented Lagrangian method, constrained cost variable, economic dispatch, electricity market, market-based optimal power flow, multiplier method, nonsmooth optimization, optimal power flow, primal-dual interior point method, stepcontrolled interior point method, trust region method.
doi:10.1109/tpwrs.2007.901301 fatcat:tl4v34xguvctvgyrh427kdvty4