Volume 9, Issue 2 (June 2013)                   IJEEE 2013, 9(2): 117-125 | Back to browse issues page

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Farshad M, Sadeh J, Rajabi Mashhadi H. A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost. IJEEE 2013; 9 (2) :117-125
URL: http://ijeee.iust.ac.ir/article-1-553-en.html
A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost
M. Farshad , J. Sadeh , H. Rajabi Mashhadi
Abstract:   (5851 Views)
This paper presents a novel solution method for joint energy and Spinning Reserve (SR) dispatch problem. In systems in which the Lost Opportunity Cost (LOC) should be paid to generators, if the LOC is not considered in the dispatch problem, the results may differ from the truly optimum solution. Since the LOC is a non-differentiable function, including it in the formulation makes the problem solving process to be time-consuming and improper for real time applications. Here, the joint energy and SR dispatch problem considering the LOC in the objective function is reformulated as a Linear Programming (LP) problem which its solving process is computationally efficient. Also, with reliance on the performance of LP problem solving process, an iterative algorithm is proposed to overcome the self-referential difficulty arising from dependence of the LOC on the final solution. The IEEE 30-bus test system is used to examine the proposed solution method.
Keywords: Energy Market , Joint Dispatch , Linear Programming , Lost Opportunity Cost , Reserve Market
Full-Text [PDF 391 kb]   (2875 Downloads)    
Type of Study: Research Paper | Subject: Restructuring
Received: 2013/02/01 | Revised: 2014/10/08 | Accepted: 2013/06/26
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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.