Abstract

In this paper we formulate of the Economic Dispatch (ED) problem in Power Systems in continuous time and include in it ramping constraints to derive an expression of the price that reflects some important inter-temporal constraints of the power units. The motivation for looking at this problem is the scarcity of ramping resources and their increasing importance motivated by the variability of power resources, particularly due to the addition of solar power, which exacerbates the need of fast ramping units in the early morning and early evening hours. We show that the solution for the marginal price can be found through Euler-Lagrange equations and we argue that this price signal better reflects the market value of power in the presence of significant ramps in net-load.

Original languageEnglish (US)
Title of host publication2016 Information Theory and Applications Workshop, ITA 2016
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781509025299
DOIs
StatePublished - Mar 27 2017
Event2016 Information Theory and Applications Workshop, ITA 2016 - La Jolla, United States
Duration: Jan 31 2016Feb 5 2016

Other

Other2016 Information Theory and Applications Workshop, ITA 2016
CountryUnited States
CityLa Jolla
Period1/31/162/5/16

Fingerprint

Solar energy
Trajectories
Economics
Costs

Keywords

  • Optimal Power Flow

ASJC Scopus subject areas

  • Computer Networks and Communications
  • Computer Science Applications
  • Artificial Intelligence
  • Information Systems
  • Signal Processing

Cite this

Scaglione, A. (2017). Continuous-time marginal pricing of power trajectories in power systems. In 2016 Information Theory and Applications Workshop, ITA 2016 [7888188] Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ITA.2016.7888188

Continuous-time marginal pricing of power trajectories in power systems. / Scaglione, Anna.

2016 Information Theory and Applications Workshop, ITA 2016. Institute of Electrical and Electronics Engineers Inc., 2017. 7888188.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Scaglione, A 2017, Continuous-time marginal pricing of power trajectories in power systems. in 2016 Information Theory and Applications Workshop, ITA 2016., 7888188, Institute of Electrical and Electronics Engineers Inc., 2016 Information Theory and Applications Workshop, ITA 2016, La Jolla, United States, 1/31/16. https://doi.org/10.1109/ITA.2016.7888188
Scaglione A. Continuous-time marginal pricing of power trajectories in power systems. In 2016 Information Theory and Applications Workshop, ITA 2016. Institute of Electrical and Electronics Engineers Inc. 2017. 7888188 https://doi.org/10.1109/ITA.2016.7888188
Scaglione, Anna. / Continuous-time marginal pricing of power trajectories in power systems. 2016 Information Theory and Applications Workshop, ITA 2016. Institute of Electrical and Electronics Engineers Inc., 2017.
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