This paper presents a new framework for the day-ahead reactive power market based on the uniform auction price. Voltage stability and security have been considered in the proposed framework. Total Payment Function (TPF) is suggested as the objective function of the Optimal Power Flow (OPF) used to clear the reactive power market. Overload, voltage drop and voltage stability margin (VSM) are inc...

This paper describes the potential for power plant construction to appear in waves causing alternating periods of over and under supply of electricity. The end result would be major swings in market prices as the industry moves through the phases of a construction cycle. This paper begins with some background on why these cycles should be taken seriously as we write the rules for a restructured...

An approach is proposed for transmission lines congestion management in a restructured market environment using a combination of demand response (DR) and flexible alternating current transmission system (FACTS) devices. To achieve this aim, a two-step market clearing procedure is formulated. In the first step, generation companies bid to the market for maximizing their profit, and the ISO clear...

This paper examines the incentives that generation firms have in restructured electricity markets for supporting long-term transmission investments. In particular, we study whether generation firms, which arguably play a dominant role in the restructured electricity markets, have the incentives to fund or support social-welfare-improving transmission investments. We examine this question and ex...

This paper addresses a new decentralized robust strategy to adapt the well tested classical automatic generation control (AGC) system to the changing environment of power system operation under deregulation based on the bilateral AGC scheme. In each control area, the effect of bilateral contracts is taken into account in a modified traditional dynamical model as a set of new input signals. The ...

We examine the economic consequences of a bid-based security-constrained centralized unit commitment paradigm based on three-part offers, which is the prevalent day-ahead market-clearing mechanism in restructured electricity markets in the United States. We then compare this approach with an energy-only auction with self-commitment (such as in Australia) addressing efficiency and pricing as wel...

The prospect of independent ownership for distributed technologies is being encouraged by the current deregulation of the industry, and it is possible that the new generators will be independently operated as well as independently owned. The siting of numerous small-scale generators in distribution feeders is likely to have an impact on the operations and control of the power system, a system d...

Renewable energy sources (RESs) have a remarkable role in advancing the goals of restructured power systems to reduce greenhouse gas emissions and increase level reliability. However, due non-uniform utilisation these resources various sectors grids, major part generated renewable energies is spilled satisfy system constraints. Motivated by this challenge, reconfiguration mechanism maximising R...

Muddling through isn’t working. This commentary argues that troubled eurozone nations should simultaneously open restructuring talks while continuing to service their debts normally. Germany, France and other core eurozone nations would have to stand ready to recapitalise the banks most exposed to the restructured debt. The ECB would then stabilise the banking system and the EFSF would stabilis...