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Practical security-boundary-constrained dispatch models for electricity markets

Abstract:

This paper concentrates on a robust characterization of system security, in terms of voltage collapse and oscillatory instabilities, in a "typical" multi-period DC-OPF auction and dispatch model. This characterization is based on the representation of the system security limits by means of a Neural Network (NN) approximation of the system security boundary. The proposed model is tested and compared with respect to a typical multi-period Security Constrained DC-OPF (SC-DC-OPF) model using the well-known two-area benchmark system. Results demonstrate that the approach ensures, in general, better locational marginal prices (LMPs) and guarantees that the operating points resulting from the optimization solution process are within the desired feasible and secure region, contrary to the typical multi-period SC-DC-OPF model, which may fail to meet this condition.