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
Modifying nodal pricing method considering market participants optimality and reliability
A. R. Soofiabadi , A. Akbari Foroud
Abstract:   (5207 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.
Keywords: Nodal Pricing , Locational Marginal Pricing (LMP) , Cost Allocation , Market Clearing , Market Participant Evaluation
Full-Text [PDF 987 kb]   (2288 Downloads)    
Type of Study: Research Paper | Subject: Restructuring
Received: 2014/09/21 | Revised: 2015/08/01 | Accepted: 2015/08/01
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Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
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© 2022 by the authors. Licensee IUST, Tehran, Iran. This is an open access journal distributed under the terms and conditions of the Creative Commons Attribution-NonCommercial 4.0 International (CC BY-NC 4.0) license.