Determination of mean and variance of LMP using probabilistic DCOPF and T-PEM

The Locational Marginal Pricing (LMP), calculated based on deterministic load flow and Optimal Power Flow (OPF), is used in power markets studies. In this paper, an algorithm has been proposed to calculate the mean and variance of LMP. The proposed method is based on Two Point Estimate Method (T-PEM...

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Bibliographic Details
Published in2008 IEEE 2nd International Power and Energy Conference pp. 1280 - 1283
Main Authors Davari, M., Toorani, F., Nafisi, H., Abedi, M., Gharehpetian, G.B.
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.12.2008
Subjects
Costs
Demand forecasting
Economic forecasting
Equations
LMP
Load flow
Mean Value
Power Market
Power markets
Power system modeling
Power system planning
Pricing
Probabilistic DCOPF
Probability Theory
T-PEM
Uncertainty
Variance Value
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Summary:The Locational Marginal Pricing (LMP), calculated based on deterministic load flow and Optimal Power Flow (OPF), is used in power markets studies. In this paper, an algorithm has been proposed to calculate the mean and variance of LMP. The proposed method is based on Two Point Estimate Method (T-PEM). The probabilistic LMP can be used to have a good estimation for LMP.
ISBN:1424424046
9781424424047
DOI:10.1109/PECON.2008.4762673