TY - GEN
T1 - Coordinated Transaction Scheduling in Multi-Area Power Systems with Strategic Participants
AU - Ndrio, Mariola
AU - Bose, Subhonmesh
AU - Guo, Ye
AU - Tong, Lang
N1 - M. Ndrio and S. Bose are with the Department of Electrical and Computer Engineering, University of Illinois at Urbana-Champaign, Urbana, IL 61801. Ye Guo is with Tsinghua-Berkeley Shenzhen Institute, Shenzhen China, 518071. L. Tong is with the School of Electrical and Computer Engineering, Cornell University, Ithaca, NY 14853. Emails: {ndrio2,boses}@illinois.edu, [email protected], [email protected]. The work was partially supported by Power System Engineering Research Center (PSERC).
PY - 2019/8
Y1 - 2019/8
N2 - In this paper we focus on the tie-line scheduling problem in multi-area power systems. We discuss two scheduling schemes: the theoretical method of tie optimization (TO) and the state of the art-coordinated transaction scheduling (CTS). Through game-theoretic analysis we compare the outcome of CTS with that of TO and show that the TO result can be achieved provided sufficient liquidity in the market. When CTS market participants learn to bid/offer over time, simulation results confirm that increased market liquidity leads to more efficient tie-line schedules.
AB - In this paper we focus on the tie-line scheduling problem in multi-area power systems. We discuss two scheduling schemes: the theoretical method of tie optimization (TO) and the state of the art-coordinated transaction scheduling (CTS). Through game-theoretic analysis we compare the outcome of CTS with that of TO and show that the TO result can be achieved provided sufficient liquidity in the market. When CTS market participants learn to bid/offer over time, simulation results confirm that increased market liquidity leads to more efficient tie-line schedules.
KW - coordinated transaction scheduling
KW - game theory
KW - seams issues
UR - https://www.scopus.com/pages/publications/85079041373
UR - https://www.scopus.com/inward/citedby.url?scp=85079041373&partnerID=8YFLogxK
U2 - 10.1109/PESGM40551.2019.8973523
DO - 10.1109/PESGM40551.2019.8973523
M3 - Conference contribution
AN - SCOPUS:85079041373
T3 - IEEE Power and Energy Society General Meeting
BT - 2019 IEEE Power and Energy Society General Meeting, PESGM 2019
PB - IEEE Computer Society
T2 - 2019 IEEE Power and Energy Society General Meeting, PESGM 2019
Y2 - 4 August 2019 through 8 August 2019
ER -