Development of a new loss prediction method in a deregulated power market using proportional sharing

The advent of worldwide deregulation of power industry and unbundling of transmission services have resulted in the need to measure the flow of power primarily for pricing and tariff purposes. Reliable analysis and prediction of electrical losses is therefore attracting more attention than ever for efficient power system management. This paper presents a novel approach for the loss prediction in the deregulated power market with the insight from Euler's Method. The effectiveness of the proposed approach is demonstrated by visual comparison and strict statistical criterion as the results suggest that it proves to be astoundingly accurate for the prediction of system losses and the associated bus losses. MATLAB with matpower4.0b extension was used to present the study on IEEE 24-bus RTS and a larger IEEE 57-bus test case.