Impacts of Power System Uncertainties on Financial Transmission Rights in Deregulated Environments

Author(s): Reza Hemmati*

Journal Name: Recent Advances in Electrical & Electronic Engineering
Formerly Recent Patents on Electrical & Electronic Engineering

Volume 10 , Issue 3 , 2017


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Graphical Abstract:


Abstract:

Background: This paper investigates the impacts of uncertainties on flow-gate marginal pricing (FMP) as an efficient tool for analyzing financial transmission rights (FTR) in deregulated electricity markets.

Methods: The proposed method provides a mathematical formulation for optimal power flow (OPF) and FMP is defined through OPF. Several parameters in electric power systems are modeled as probability distribution function (PDF) and Monte-Carlo simulation (MCS) is utilized to cope with the uncertainties. In order to indicate the priority of the parameters on FMP, sensitivity analysis is carried out and the priority list is derived.

Conclusion: Many analyses and assessments demonstrate that network uncertainty makes great impacts on FMP and it is inevitable to include such uncertainties in FMP calculations. Results also emphasize the major effects of FMP in electric power systems under deregulated environments.

Keywords: Congestion, deregulated market, financial transmission right, flow-gate marginal pricing, parameters, sensitivity.

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Article Details

VOLUME: 10
ISSUE: 3
Year: 2017
Published on: 30 May, 2017
Page: [272 - 278]
Pages: 7
DOI: 10.2174/1872212111666170530125732
Price: $25

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