Steady-state behavior of a system under market environment near the maximum loading limit

This paper presents a study of the behavior of systems under power markets using a parametric optimal power flow model. A procedure based on a modified set of optimality conditions is used to track the system optimal operating points in the neighborhood of the maximum loading limit, defined by steady-state operating constraints. The characteristics of the operating points in this neighborhood and the consequences of reaching the system unstable operating region are analyzed. Results are presented for a 5-bus example.