Decomposition and Equilibrium Achieving Distribution Locational Marginal Prices Using Trust-Region Method

Sarmad Hanif, Kai Zhang, Christoph M. Hackl, Masoud Barati, Hoay Beng Gooi, Thomas Hamacher

Research output: Contribution to journalArticlepeer-review

42 Scopus citations

Abstract

We propose a new distribution locational marginal price (DLMP) model which is based on a linearized variant of the global energy balance formulation along with trust-region-based solution methodology. Compared to existing DLMP works in the literature, the proposed DLMP model has shown to depict the following features: 1) it decomposes into most general components, i.e., energy, loss, congestion, and voltage; 2) it presents market equilibrium conditions; and 3) it is capable of achieving an efficient flexibility resource allocation in local day-ahead distribution grid markets. The developed model is tested first on a benchmark IEEE 33-bus distribution grid and then on much larger grids with the inclusion of dispatch from flexible loads and distributed generators.

Original languageEnglish
Article number8330038
Pages (from-to)3269-3281
Number of pages13
JournalIEEE Transactions on Smart Grid
Volume10
Issue number3
DOIs
StatePublished - May 2019
Externally publishedYes

Keywords

  • Distribution locational marginal prices (DLMPs)
  • distributed generators (DGs)
  • flexible loads (FLs)
  • linearization
  • market equilibrium
  • trust-region

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