Short-term economic energy management in a competitive utility environment

Journal Article · Sun Jan 31 23:00:00 EST 1993 · IEEE Transactions on Power Systems (Institute of Electrical and Electronics Engineers); (United States)

DOI:https://doi.org/10.1109/59.221239· OSTI ID:6002337

Ilic, M D; Lacalle-Melero, J R; Nishimura, F; Schenler, W ^[1]; Shirmohammadi, D ^[2]; Crough, A; Catelli, A ^[3]

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1. Massachusetts Inst. of Tech., Cambridge, MA (United States)
2. Pacific Gas and Electric Co., San Francisco, CA (United States)
3. Northeastern Utilities, Berlin, CT (United States)

In this paper an approach to short-term economic rescheduling is proposed. The method is based on an iterative combination of alternating consideration of technical and economic criteria. Its attractiveness lies in incorporating both technical and economic goals without the computational expense of combining them in a mathematical optimization process. A specific algorithm is proposed which is based on using a localized mismatch spreading algorithm. The method is potentially very useful for quantifying tradeoffs between economics and system security in the newly evolving competitive environment.

• OSTI ID: 6002337
• Journal Information: IEEE Transactions on Power Systems (Institute of Electrical and Electronics Engineers); (United States), Journal Name: IEEE Transactions on Power Systems (Institute of Electrical and Electronics Engineers); (United States) Vol. 8:1; ISSN 0885-8950; ISSN ITPSEG
• Country of Publication: United States
• Language: English

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COMPUTERIZED SIMULATION
ECONOMICS
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