Volume 11, Issue 2 (June 2015)                   IJEEE 2015, 11(2): 165-173 | Back to browse issues page

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Soofiabadi A R, Akbari Foroud A. Modifying nodal pricing method considering market participants optimality and reliability. IJEEE. 2015; 11 (2) :165-173
URL: http://ijeee.iust.ac.ir/article-1-717-en.html
Abstract:   (2631 Views)
This paper develops a method for nodal pricing and market clearing mechanism considering reliability of the system. The effects of components reliability on electricity price, market participants’ profit and system social welfare is considered. This paper considers reliability both for evaluation of market participant’s optimality as well as for fair pricing and market clearing mechanism. To achieve fair pricing, nodal price has been obtained through a two stage optimization problem and to achieve fair market clearing mechanism, comprehensive criteria has been introduced for optimality evaluation of market participant. Social welfare of the system and system efficiency are increased under proposed modified nodal pricing method.
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Type of Study: Research Paper | Subject: Restructuring
Received: 2014/09/21 | Accepted: 2015/08/01 | Published: 2015/08/01

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