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Calculation for Components of Locational Marginal Price considering Demand-Side Bidding in a Competitive Electricity Market  

Kim, Hyun-Houng (건국대학 전기공학과)
Kim, Jin-Ho (경원대학 전기정보공학)
Park, Jong-Bae (건국대학 전기공학과)
Shin, Joong-Rin (건국대학 전기공학과)
Publication Information
The Transactions of The Korean Institute of Electrical Engineers / v.57, no.7, 2008 , pp. 1157-1166 More about this Journal
Abstract
This paper presents a new approach for the evaluation of location marginal prices (LMPs) considering demand-side bidding (DSB) in a competitive electricity market. The stabilization of the electric power supply and demand balance is one of the major important activities in electric power industry. In this paper, we present an analytical method for calculation of LMPs considering DSB, which has opportunity to compete with generating units, as England & Wales Pool's DSB scheme[1]. Also, we propose a new approach that LMP considering DSB is divided into three components. The proposed approach can be used for the evaluation of demand-side bidding into the electricity market and the assessment of the influence of DSB on total production costs and LMPs as well as three components.
Keywords
Location marginal price; Demand-side bid; Shadow price; Congestion cost;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
Times Cited By SCOPUS : 0
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