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Predictive electricity dispatch through negotiated locational pricing


J. Warrington

California Institute of Technology (Caltech), CDS Group, Wednesday, 6th October 2010

A predictive mechanism is presented with the aim of reacting to frequent-update predictions of electrical demand and renewable energy generation in competitive electricity markets. The market participants are modelled as price-elastic units, price-inelastic units, and storage operators. The distributed control algorithm manipulates prices over a time horizon through a negotiation procedure, in order to maximize social welfare while satisfying network constraints. A simple, transparent flow allocation method is used to assign responsibility for constraint violations on the network to individual units, and nodal prices are adjusted accordingly. Such a framework is appropriate for the inclusion of aggregated household appliances or other 'virtual' market participants realized through smart grid infrastructure. Early success in the pricing algorithm is demonstrated for a densely-populated 39-bus network, where the scheme is shown to allow storage to reduce price volatility in the presence of fluctuating demand.


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M. Morari

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