Nodal price volatility reduction and reliability enhancement of restructured power systems considering demand–price elasticity

• Published in: Electric power systems research Vol. 78; no. 10; pp. 1655 - 1663
• Main Authors: Goel, L., Wu, Qiuwei, Wang, Peng
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier B.V 01.10.2008; Elsevier
• Subjects: Applied sciences; CDFs; Demand–price elasticity; Electrical engineering. Electrical power engineering; Electrical power engineering; Exact sciences and technology; Miscellaneous; Nodal price volatility reduction; Operation. Load control. Reliability; OPF; Power networks and lines; Reliability enhancement; Restructured power systems; Testing. Reliability. Quality control; CDFs; Nodal price volatility reduction; Restructured power systems; OPF; Reliability enhancement; Demand–price elasticity; Power demand; Clientele; Power system economics; Elasticity; System reliability; Electrical network analysis; Optimal power flow; Electrical network; Demand-price elasticity; Pricing; System simulation; Energy demand; Power markets; Economic aspect; IEEE standards; Damaging

With the development of restructured power systems, the conventional “same for all customers” electricity price is getting replaced by nodal prices. Electricity prices will fluctuate with time and nodes. In restructured power systems, electricity demands will interact mutually with prices. Customers...