A Conic Optimal Power Flow with Uncertain Prices
نویسنده
چکیده
The interconnection of modern electric power systems allows utilities to obtain significant savings in operational cost by scheduling power purchases. In a deregulated environment, utilities have only partial knowledge of the price of power available in the market. This paper presents a solution to the optimal power purchase problem in a utility by considering ellipsoidal cost coefficient uncertainty and a second-order network model. It is shown that the resulting risk-averted optimal power flow model is a particular instance of a convex secondorder cone program for which polynomial interior-point methods and efficient implementations exist. The proposed method is used to compute the efficient frontier of the optimal purchase problem in two sample test systems. The results indicate that in the presence of fluctuating market prices, the efficient frontier gives valuable information for determining trade-off between risk and expected profit. The validity of the numerical results is confirmed using a Monte-Carlo simulation.
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