Intelligent energy management for restructured power system

Abstract

newline Electricity supply industries are undergoing a phase of restructuring, across the globe, with the aim of bringing competition at wholesale and retail levels. It creates a market condition for possibly bring down the electricity prices and increase the customer focus. The new electricity market structure results in large number of independent players, such as GENeratingCOmpanies (GENCOand#8223;s), TRANSmissionCOmpanies (TRANSCOand#8223;s), DIStributionCOmpanies (DISCOand#8223;s) and customers. The system operation and market management is carried out by an independent agency having no business interests, known as system operator. The primary task of the system operator in the electricity market is to manage the market settlement and allow the power flow from GENCOand#8223;s to DISCOand#8223;s. As the competition is introduced amongst the market players, each gives the priority to its own economic incentives, tending to undermine technical constraints which are necessary for secure and reliable operation of the power system. Most of the power transfer in the competitive market structure undergoes through wheeling transactions. In this work bilateral and multilateral wheeling transactions are modeled to transfer the power from source to load. The change in power flow, power losses and voltage variations due to the wheeling transactions are demonstrated in the practical utility system. The impact of real and reactive power flows is validated by computing performance index for the corresponding transmission lines to identify its performance. newline newline