By Topic

Reliability Enhancement and Nodal Price Volatility Reduction of Restructured Power Systems with Stochastic Demand Side Load Shift

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$33 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

3 Author(s)
L. Goel ; Senior Member, IEEE, School of EEE, Nanyang Technological University, Singapore 639798, Singapore; Professor, Head, Division of Power Engineering. e-mail: ; Qiuwei Wu ; Peng Wang

Demand side load shift has re-emerged as an important tool to solve the problems accompanying the restructuring of power systems, such as capacity shortage, transmission congestion, electricity price volatility and possible reduced system reliability. A methodology to determine demand side load shift is developed to enhance reliability and to reduce nodal price volatility of restructured power systems. In restructured power systems, the conventional "same for all customers" electricity price is replaced by nodal prices. Electricity prices will interact mutually with demands. This interaction is known as demand response. Demand response is modeled using demand-price elasticity matrix which includes self- and cross-elasticities. The demand side load shifts under N-2 random system contingencies are determined using demand-price elasticity. Then the overall stochastic demand side load shift is calculated using the determined demand side load shifts under random contingencies and their probability. Reliability enhancement and nodal price reduction of restructured power systems due to stochastic demand side load shift are investigated using optimal power flow (OPF) and reliability evaluation techniques. A small but comprehensive reliability test system, RBTS, is used to illustrate the concepts, and simulation results show that stochastic demand side load shift is an efficient tool to reduce nodal price volatility and enhance system and nodal reliability of restructured power systems.

Published in:

Power Engineering Society General Meeting, 2007. IEEE

Date of Conference:

24-28 June 2007