An effective transmission pricing strategy is essential to handle transmission difficulties and create correct economic signals in restructured power markets. Energy costs might fluctuate across the network due to transmission line restrictions. Generator bids, load levels, and transmission network constraints all influence these prices. In the energy market, locational marginal pricing (LMP) is a prominent strategy for establishing nodal prices and managing transmission congestion. This chapter explains how to apply a Genetic Algorithm (GA)-based security constrained economic dispatch (SCED) approach to evaluate LMPs at all buses while reducing overall system fuel cost for a restricted transmission system, both with and without system losses. The EEE 14 bus system, the 75-bus Indian power system, and the New England 39-bus system all utilise the proposed GA-based SCED concept. The acquired results are compared to traditional Linear Programming-based DCOPF using Power World Simulator. Fixed and linear bids are examined for generators. The load is assumed to be inelastic. In all of the scenarios tested, the suggested GA-based SCED for LMP calculation has been proved to be relatively simple, reliable, and efficient. Furthermore, adopting GA to optimise generator redispatch results in a reduction in overall generation fuel costs.
Author(S) Details
M. Murali
Department of E.E.E, K.S.R.M. College of Engineering (Autonomous), Kadapa, Andhra Pradesh, India.
View Book:- https://stm.bookpi.org/NPER-V4/article/view/5102
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