Classification of generators participating in the bulk-power market

Venkat Durvasulu; Timothy M. Hansen; Reinaldo Tonkoski

doi:10.1109/ICIT.2017.7915422

Classification of generators participating in the bulk-power market

Venkat Durvasulu, Timothy M. Hansen, Reinaldo Tonkoski

South Dakota State University

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

3 Scopus citations

Abstract

Economic studies in power systems have gained more importance post deregulation. The number of generators participating in the power market have significantly increased over the past years. Smart grids are now enabling distributed generation resources to also participate in the power market. Many economic studies conducted on power system networks utilize legacy quadratic cost curves which are based on very old coal-fired plants. This paper proposes a method to obtain generator cost curves that reflect realistic prices of a bulk power market. Cost curves are obtained from real market data for different generator types (e.g., base, peak) using k-Means clustering. The cost curves are used on the IEEE 24-bus test system to show that realistic locational marginal prices are obtained that emulate the real market data.

Original language	English
Title of host publication	2017 IEEE International Conference on Industrial Technology, ICIT 2017
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	575-579
Number of pages	5
ISBN (Electronic)	9781509053209
DOIs	https://doi.org/10.1109/ICIT.2017.7915422
State	Published - 26 Apr 2017
Externally published	Yes
Event	2017 IEEE International Conference on Industrial Technology, ICIT 2017 - Toronto, Canada Duration: 23 Mar 2017 → 25 Mar 2017

Publication series

Name	Proceedings of the IEEE International Conference on Industrial Technology

Conference

Conference	2017 IEEE International Conference on Industrial Technology, ICIT 2017
Country/Territory	Canada
City	Toronto
Period	23/03/17 → 25/03/17

Keywords

Generator taxonomy
K-Means clustering
Quadratic cost curves

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1109/ICIT.2017.7915422

Cite this

Durvasulu, V., Hansen, T. M., & Tonkoski, R. (2017). Classification of generators participating in the bulk-power market. In 2017 IEEE International Conference on Industrial Technology, ICIT 2017 (pp. 575-579). Article 7915422 (Proceedings of the IEEE International Conference on Industrial Technology). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ICIT.2017.7915422

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title = "Classification of generators participating in the bulk-power market",

abstract = "Economic studies in power systems have gained more importance post deregulation. The number of generators participating in the power market have significantly increased over the past years. Smart grids are now enabling distributed generation resources to also participate in the power market. Many economic studies conducted on power system networks utilize legacy quadratic cost curves which are based on very old coal-fired plants. This paper proposes a method to obtain generator cost curves that reflect realistic prices of a bulk power market. Cost curves are obtained from real market data for different generator types (e.g., base, peak) using k-Means clustering. The cost curves are used on the IEEE 24-bus test system to show that realistic locational marginal prices are obtained that emulate the real market data.",

keywords = "Generator taxonomy, K-Means clustering, Quadratic cost curves",

author = "Venkat Durvasulu and Hansen, {Timothy M.} and Reinaldo Tonkoski",

note = "Publisher Copyright: {\textcopyright} 2017 IEEE.; 2017 IEEE International Conference on Industrial Technology, ICIT 2017 ; Conference date: 23-03-2017 Through 25-03-2017",

year = "2017",

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doi = "10.1109/ICIT.2017.7915422",

language = "English",

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Durvasulu, V, Hansen, TM & Tonkoski, R 2017, Classification of generators participating in the bulk-power market. in 2017 IEEE International Conference on Industrial Technology, ICIT 2017., 7915422, Proceedings of the IEEE International Conference on Industrial Technology, Institute of Electrical and Electronics Engineers Inc., pp. 575-579, 2017 IEEE International Conference on Industrial Technology, ICIT 2017, Toronto, Canada, 23/03/17. https://doi.org/10.1109/ICIT.2017.7915422

Classification of generators participating in the bulk-power market. / Durvasulu, Venkat; Hansen, Timothy M.; Tonkoski, Reinaldo.
2017 IEEE International Conference on Industrial Technology, ICIT 2017. Institute of Electrical and Electronics Engineers Inc., 2017. p. 575-579 7915422 (Proceedings of the IEEE International Conference on Industrial Technology).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Classification of generators participating in the bulk-power market

AU - Durvasulu, Venkat

AU - Hansen, Timothy M.

AU - Tonkoski, Reinaldo

PY - 2017/4/26

Y1 - 2017/4/26

N2 - Economic studies in power systems have gained more importance post deregulation. The number of generators participating in the power market have significantly increased over the past years. Smart grids are now enabling distributed generation resources to also participate in the power market. Many economic studies conducted on power system networks utilize legacy quadratic cost curves which are based on very old coal-fired plants. This paper proposes a method to obtain generator cost curves that reflect realistic prices of a bulk power market. Cost curves are obtained from real market data for different generator types (e.g., base, peak) using k-Means clustering. The cost curves are used on the IEEE 24-bus test system to show that realistic locational marginal prices are obtained that emulate the real market data.

AB - Economic studies in power systems have gained more importance post deregulation. The number of generators participating in the power market have significantly increased over the past years. Smart grids are now enabling distributed generation resources to also participate in the power market. Many economic studies conducted on power system networks utilize legacy quadratic cost curves which are based on very old coal-fired plants. This paper proposes a method to obtain generator cost curves that reflect realistic prices of a bulk power market. Cost curves are obtained from real market data for different generator types (e.g., base, peak) using k-Means clustering. The cost curves are used on the IEEE 24-bus test system to show that realistic locational marginal prices are obtained that emulate the real market data.

KW - Generator taxonomy

KW - K-Means clustering

KW - Quadratic cost curves

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M3 - Conference contribution

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ER -

Classification of generators participating in the bulk-power market

Abstract

Publication series

Conference

Keywords

UN SDGs

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