Medium-term scheduling of electric power system states under a wholesale electricity market

Abstract

The paper focuses on the development of a mathematical model for scheduling electric power system (EPS) states for the medium-term period divided into several time intervals. The model allows calculating the equilibrium state in the EPS, in which each supplier receives the maximum profit from the electricity supply to the wholesale market. The price levels in the EPS are determined by finding the maximum value of the social welfare given the balance constraints at the EPS nodes and the constraints on feasible state variables over several time intervals. Approaches to solving the multi-interval problem of search for an equilibrium states are considered. The approaches involve building a system of joint optimality conditions for electricity suppliers in the considered time intervals. The equilibrium state is found either by directly solving such a system or through an iterative search. The paper demonstrates the results of the medium-term scheduling of the state by an example of a simplified electric power system.. electric power system..