Comparison of various electricity market pricing strategies to reduce generation cost of a microgrid system using hybrid WOA-SCA

2021 ◽  
Author(s):  
Bishwajit Dey ◽  
Biplab Bhattacharyya
Keyword(s):  
Electricity Market ◽  
Pricing Strategies ◽  
Market Pricing ◽  
Generation Cost

Optimal Power Flow Based Economic Generation Scheduling in Day-ahead Power Market

2017 ◽  
Vol 6 (3) ◽  
pp. 124
Author(s):  
Kshitij Choudhary ◽  
Rahul Kumar ◽  
Dheeresh Upadhyay ◽  
Brijesh Singh
Keyword(s):  
Power System ◽  
Electricity Market ◽  
Power Flow ◽  
Optimal Power Flow ◽  
Congestion Management ◽  
Test Results ◽  
Loss Minimization ◽  
Optimal Power ◽  
Generation Scheduling ◽  
Generation Cost

The present work deals with the economic rescheduling of the generation in an hour-ahead electricity market. The schedules of various generators in a power system have been optimizing according to active power demand bids by various load buses. In this work, various aspects of power system such as congestion management, voltage stabilization and loss minimization have also taken into consideration for the achievement of the goal. The interior point (IP) based optimal power flow (OPF) methodology has been used to obtain the optimal generation schedule for economic system operation. The IP based OPF methodology has been tested on a modified IEEE-30 bus system. The obtained test results shows that not only the generation cost is reduced also the performance of power system has been improved using proposed methodology.

Security Enhanced OPF with Transmission Cost Solution under Bilateral and Multilateral Transactions

2014 ◽  
Vol 573 ◽  
pp. 734-740
Author(s):  
J. Bastin Solai Nazaran ◽  
K. Selvi
Keyword(s):  
Electricity Market ◽  
Power Flow ◽  
Optimal Power Flow ◽  
Operating Conditions ◽  
Human Group ◽  
Transmission Cost ◽  
Intelligent Technique ◽  
Optimal Power ◽  
Deregulated Electricity Market ◽  
Generation Cost

In a deregulated electricity market, it is important to dispatch the generation in an economical manner. While dispatching it is also important to ensure security under different operating conditions. In this study intelligent technique based solution for optimal power flow is attempted. Transmission cost is calculated using Bialek’s upstream tracing method. Generation cost, transmission costs are combined together for pre and post contingency periods to form objective function. Different bilateral and multilateral conditions are considered for analysis. A human group optimization algorithm is used to find the solution of the problem. IEEE 30 bus system is taken as test systems.

scholarly journals Pricing Strategies In High-Inflation Markets: Implications For The Multinational Corporation

2011 ◽  
Vol 9 (1) ◽  
pp. 44
Author(s):  
Alphonso O. Ogbuehi
Keyword(s):  
Multinational Corporation ◽  
Multinational Firms ◽  
Pricing Strategies ◽  
Market Demand ◽  
Internal Factors ◽  
Government Regulations ◽  
Market Pricing ◽  
Easy Task ◽  
Pricing Decision ◽  
High Inflation

The pricing decision of multinational firms directly affects their ability to competitively remain in a high-inflation market. Pricing, never an easy task, involves many factors such as competition, market demand, government regulations, and internal factors. However, when the firm must set price within a high-inflation market, these factors become compounded. A framework for formulating pricing strategies in high-inflation markets is proposed.

scholarly journals PUBLIC MECHANISMS OF FINANCIAL SECURITY IN ELECTRICITY: THE EXPERIENCE OF POLAND AND UKRAINE

2021 ◽  
Vol 1 (36) ◽  
pp. 116-123
Author(s):  
G. Dzhumageldiyeva ◽  
I. Dragan ◽  
O. Dyka ◽  
V. Zagurska-Antoniuk ◽  
I. Moisieiev
Keyword(s):  
Electricity Market ◽  
Financial Support ◽  
Law And Economics ◽  
Electric Power Industry ◽  
Energy System ◽  
Market Pricing ◽  
The Public ◽  
Cross Border ◽  
Domestic Electricity ◽  
Cross Border Cooperation

The research was conducted on the basis of the analysis of the current legislation, statistical data of the state authorities of Ukraine and program documents containing strategies of development of electric power industry of Ukraine and Poland. The purpose of the work is to determine the directions of developing the public mechanisms of financial support in electricity of Ukraine and Poland within cross-border cooperation. The study is logically built in terms of coverage of three areas, in particular, the analysis of the domestic electricity market of Ukraine (which conducts a critical analysis of the structure and volume of electricity in the UES of Ukraine); analysis of the compatibility of the principles of Ukrainian electricity legislation with the principles of the third EU energy package (which focuses on maintaining certain elements of non-market pricing that distort competition in the new model of the electricity market of Ukraine) and the imperative of cross-border cooperation between Ukraine and Poland which outlines them main tasks in the field of law and economics, the solution of which is necessary to create a transnational exchange market of Ukraine  and Poland in the implementation of the Energy Strategy of Ukraine in the context of integration of the UES of Ukraine with the European energy system). The results obtained allow to determine the effective directions of public administering financial support of cross-border cooperation between Ukraine and Poland in electricity and possible forms and directions of its implementation.

Spinning Reserve Optimization Model Based on Bi-Level Programming

2011 ◽  
Vol 354-355 ◽  
pp. 1047-1050
Author(s):  
Da Wei Huang ◽  
Ming Lei
Keyword(s):  
Power Systems ◽  
Electricity Market ◽  
Cost Minimization ◽  
Test System ◽  
Spinning Reserve ◽  
Proposed Model ◽  
Generation Cost ◽  
Security And Reliability ◽  
Upper Level

How to determine spinning reserve reasonably in electricity market is one of the key questions which guarantee the security and reliability of power systems. For this issue, based on bi-level programming theory, an optimal model of spinning reserve is established in this paper. In this model the generation cost minimization and the reserve cost minimization are the upper level and lower level optimization object separately, and the network and “N-1”security constraints of the power system are also considered. The determination of reserve capacity and the reliability level are related, and the reserve rate of each unit is determined. And an IEEE-14 nodes test system case is used to demonstrate the feasibility and rationality of this proposed model.

scholarly journals COSTOS DE GENERACIÓN, INVERSIÓN Y PRECIOS DEL SECTOR ELÉCTRICO EN MÉXICO

2019 ◽  
Vol 78 (309) ◽  
pp. 58
Author(s):  
Alejandra Enríquez ◽  
José Carlos Ramírez ◽  
Juan Rosellón
Keyword(s):  
Electricity Market ◽  
Electricity Sector ◽  
Cost Curve ◽  
Transmission Congestion ◽  
Price Increases ◽  
Daily Data ◽  
Generation Cost ◽  
Generation Costs ◽  
La Red ◽  
The Relationship

<p>Los precios de la electricidad han registrado una marcada tendencia al alza desde la implementación de la reforma en el mercado eléctrico (RME) de México, que ha sido citada por algunos como evidencia de su fracaso. En este artículo estudiamos los determinantes de esa alza mediante la deducción de la curva de costos de generación de la Comisión Federal de Electricidad, antes de la entrada en vigor de la reforma, la construcción de datos horarios sobre precios promedios y el estudio de la relación entre precios y rentas de congestión. Los resultados principales del documento muestran que los tipos de tecnología de generación más rentables son los resultantes de la RME y que el aumento de los precios registrado durante los primeros años de la RME se explica, principalmente, por una creciente congestión de la red nacional de transmisión eléctrica más que por un diseño ineficiente de la competencia en el sector de generación.</p><p> </p><p align="center">GENERATION COSTS, INVESTMENT AND PRICES IN MEXICO’S ELECTRICITY SECTOR<strong></strong></p><p align="center"><strong>ABSTRACT</strong><strong> </strong><strong></strong></p>Electricity prices have seen a consistent upward trend since the implementation of Mexico’s electricity market reform (EMR). This has been interpreted by some as a failure of the EMR. In this paper we study the determinants of such price increases. We calculate the generation cost curve of the Federal Electricity Commission prior to the entry into force of the reform. We then construct daily data on average prices during the EMR. We also finally study the relationship between prices and transmission congestion rents. Our main results indicate that the most profitable types of generation technology are the ones resulting from the EMR. Likewise, price increases have taken place despite the existence of a considerably larger number of competitors in the generation sector. Lastly, the strong correlation between prices and congestion revenues is evidence that the increase in prices under the EMR is mainly due to the growing congestion in the national electricity transmission network rather than due to an inefficient competitive market design in the generation sector.

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