Unified Framework and Performance Analysis of Transaction Adjustment Models in Congestion Management of Power System

Abstract:

This framework can not only include all kinds of existing transaction adjustment models in the Pool, bilateral/ multilateral and Pool+bilateral/ multilateral trade modes, but also establish new transaction adjustment models by setting different parameters. A comprehensive model frame-work for investigating the congestion relief problem was provided. Then, based on the unified framework, three performance indexes, i.e., the market benefit, the effect of manipulation and the choice degree of participants are presented to compare the transaction adjustment models. The existing transaction adjustment models are evaluated, and the comparison results show that the transaction adjustment models in the Pool+bilateral/multilateral trade mode are superior to those of Pool or bilateral/multilateral trade mode as a whole.

• Periodical: Applied Mechanics and Materials (Volumes 37-38)
• Pages: 1615-1618
• DOI: https://doi.org/10.4028/www.scientific.net/AMM.37-38.1615
• Online since: November 2010
• Authors: Ying Wang, Shuang Wang, Wen Jun Xu
• Keywords: Congestion Management, Performance Analysis, Power System, Transaction Adjustment, Unified Framework

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