2018/03/12 by Tjerk Stegink, Stegink, Tjerk, Ashish Cherukuri +7
Engineering · #Electric Power System Optimization #FOS: Mathematics #Optimal Power Flow Distribution #Optimization and Control (math.OC) #Smart Grid Energy Management
paper · pdf · doi:10.48550/arxiv.1803.04216
openalex publication_date 2018/03/12 · openalex created_date 2022/10/03 · openalex updated_date 2026/07/28
This paper considers a real-time electricity market involving an independent\nsystem operator (ISO) and a group of strategic generators. The ISO operates a\nmarket where generators bid prices at which there are willing to provide power.\nThe ISO makes power generation assignments with the goal of solving the\neconomic dispatch problem and regulating the network frequency. We propose a\nmulti-rate hybrid algorithm for bidding and market clearing that combines the\ndiscrete nature of iterative bidding with the continuous nature of the\nfrequency evolution in the power network. We establish sufficient upper bounds\non the inter-event times that guarantee that the proposed algorithm\nasymptotically converges to an equilibrium corresponding to an efficient Nash\nequilibrium and zero frequency deviation. Our technical analysis builds on the\ncharacterization of the robustness properties of the continuous-time version of\nthe bidding update process interconnected with the power network dynamics via\nthe identification of a novel LISS-Lyapunov function. Simulations on the IEEE\n14-bus system illustrate our results.\n