Iranian Journal of Electrical and Electronic Engineering, Volume (9), No (2), Year (2013-7) , Pages (117-125)

Title : ( A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost )

Authors: Mohammad Farshad , Javad Sadeh , Habib Rajabi Mashhadi ,

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This paper presents a novel solution method for joint energy and Spinning Reserve (SR) dispatch problem. In systems in which the Lost Opportunity Cost (LOC) should be paid to generators, if the LOC is not considered in the dispatch problem, the results may differ from the truly optimum solution. Since the LOC is a non-differentiable function, including it in the formulation makes the problem solving process to be time-consuming and improper for real time applications. Here, the joint energy and SR dispatch problem considering the LOC in the objective function is reformulated as a Linear Programming (LP) problem which its solving process is computationally efficient. Also, with reliance on the performance of LP problem solving process, an iterative algorithm is proposed to overcome the self-referential difficulty arising from dependence of the LOC on the final solution. The IEEE 30-bus test system is used to examine the proposed solution method.

Keywords

, Energy Market, Reserve Market, Joint Dispatch, Lost Opportunity Cost,
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@article{paperid:1033785,
author = {Farshad, Mohammad and Sadeh, Javad and Rajabi Mashhadi, Habib},
title = {A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost},
journal = {Iranian Journal of Electrical and Electronic Engineering},
year = {2013},
volume = {9},
number = {2},
month = {July},
issn = {1735-2827},
pages = {117--125},
numpages = {8},
keywords = {Energy Market; Reserve Market; Joint Dispatch; Lost Opportunity Cost; Linear Programming},
}

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%0 Journal Article
%T A Novel Technique for Joint Energy and Reserve Dispatch Considering Lost Opportunity Cost
%A Farshad, Mohammad
%A Sadeh, Javad
%A Rajabi Mashhadi, Habib
%J Iranian Journal of Electrical and Electronic Engineering
%@ 1735-2827
%D 2013

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