LOCATIONAL MARGINAL PRICING CALCULATION USING CONCENTRATED AND DISTRIBUTED MODEL BASED ON DCOPF IN POWER MARKET
In restructured electricity markets, one of the significant dispute is the perception of real-time nodal pricing. In this work, the concept of locational marginal pricing (LMP) mechanism is implemented with the Direct Current Optimal Power Flow (DCOPF) and IEEE 39 bus system to develop the simulation test bed of this approach. The nominated LMP employs DCOPF to compute the corresponding nodal prices. Here, two different LMP approaches such as concentrated and distributed model are applied, which has the same objective function with different constraints. It is included in the composition of the two models and is consistent with the dissimilar characteristics of the DC transmission system. The LMP composed of Marginal Energy Cost (MEC), Marginal Congestion Cost (MCC) and Marginal Loss Cost (MLC), can be used to compute LMP nodal pricing for both of the two models. The efficacy and viability of the proposed system using LMP technique is validated with the help of IEEE 39 bus test system.
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