Spot Power Market Simulation Based on Equilibrium Principle

Equilibrium is the optimum operational condition for the power market by economics rule. Whereas the spot power market cannot generally achieve the equilibrium due to existing network losses and congestion. The impact of the network losses and congestion on spot power market is analyzed in order to newly establish the equilibrium model under considering the network topology. At the end, the OPF is solved by means of the equal price principle. The case study is made on IEEE-30 nodes system in order to prove the results proposed in this paper.