On Computational Issues of Market-Based Optimal Power Flow

Murillo-Sánchez, Carlos | Thomas, Robert J. | Wang, Hongye (Harry) | Zimmerman, Ray D. | Power Systems - Monitoring and Performance
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Wang, H; Murillo-Sánchez, C.E.; Zimmerman, R.D.; Thomas, R.J.
IEEE Transactions on Power Systems, vol 22., No. 3, pp. 1185-1193, August 2007

The deregulated electricity market calls for robust optimal flow (OPF) tools that can provide a)deterministic convergence; b) accurate computation of nodal prices; c) support of both smooth and nonsmooth costing of a variety of resources and services, such as real energy, reactive energy, voltages support, etc.; d) full active and reactive power flow modeling of large-scale systems; and e)satisfactory worst-case performance that meets the real-time dispatching requirement. Most prior research on OPF has focused on performance issues in the context of regulated systems, without giving much emphasis to requirements a)-c). This paper discusses the computational challenges brought up by the deregulation and attempts to address them through the introduction of new OPF formulations and algorithms. Trust-region-based augmented Lagrangian method (TRALM), step-controlled primal-dual interior point method (SCIPM), and constrained cost variable (CCV) OPF formulation are proposed. The new formulations and algorithms, along with several existing ones, are tested and compared using large-scale power system models.