Study on Load-shedding Based on Economic Equivalent in Power Market

• Published in: 2005 IEEE/PES Transmission & Distribution Conference & Exposition: Asia and Pacific pp. 1 - 5
• Main Authors: Wang Li-yong, Zhang Bao-hui, Tan Lun-nong, Ren Jin-feng, Zhou De-cai, Yao Feng, Zhang Wen-hao, Xie Han, Yu Gang-Liang
• Format: Conference Proceeding
• Language: English
• Published: IEEE 2005
• Subjects: Costs; economic equivalent; electric power market; Environmental economics; load-shedding; Power generation economics; Power grid company; Power markets; power system; Power system analysis computing; Power system economics; Power system measurements; Power system modeling; Power system reliability; Power system security; Reliability; reserve capacity; Service energy company; Supply energy company
• ISBN: 0780391144; 9780780391147
• ISSN: 2160-8636; 2160-8644
• DOI: 10.1109/TDC.2005.1547052

Economics is the first goal pursued by all the participants in power market environment. The security and reliability of power system should be subordinate to this goal. The economic equivalent of security and reliability measure is based on the difference of the economic profits brought by the security and reliability measure and the cost needed by the implementation of the security and reliability measure. Based on the analysis of the power exchange and the determination of reserve capacity, the paper proposes that, on the premise of transmission open access, grid company can earn larger profits by way of load-shedding and making the reasonable compensation for the supply energy companies' and service energy companies' losses, and the relevant models for load-shedding in the power exchange and the confirmation of reserve capacity are developed. Finally, the rationality of the model and the feasibility of the algorithm developed here are demonstrated. The economic equivalent gives an entirely new way for economic determination of power system security and reliability