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A simulation tool for calculating energy prices in competitive electricity markets

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3 Author(s)
Xiaokang Xu ; Siemens Power Transmission & Distribution, Inc., Power Technologies International (Siemens PTI), 1482 Erie Boulevard, Schenectady, New York 12305 U.S.A. ; Derek W. Lane ; Michael J. S. Edmonds

This paper presents a software tool, PSStradeLMP , for simulating true energy market operation conditions and prices using security-constrained unit commitment and security-constrained economic dispatch. PSStradeLMP has been integrated with Siemens PTI's world-wide used transmission planning tool, PSStradeE, allowing for full transmission network modeling and providing a fundamental and essential foundation for LMP analysis. PSStradeLMP analyzes the effects of network conditions and determines LMP at each node as well as energy production cost components. The core function of PSStradeLMP is a 24-hour simulation for LMP-based electricity markets or energy price forecasting. Simulation results can be viewed as tables, displayed on a diagram of the network, or presented as a time-series plot. In conjunction with PSStradeE, PSStradeLMP can be used as a complimentary tool for market-based transmission planning.

Published in:

Electric Utility Deregulation and Restructuring and Power Technologies, 2008. DRPT 2008. Third International Conference on

Date of Conference:

6-9 April 2008