Pricing System Security in Electricity Market Models with Inclusion of Voltage Stability Constraints

This thesis proposes novel techniques which allow including voltage stability constraints in competitive electricity markets and pricing system security. A multi-objective Optimal Power Flow (OPF) approach to account for system security through the use of voltage stability constraints and to provide an estimation of the system congestion, e.g. the system Available Loading Capability (ALC), is proposed and solved by means of an Interior Point Method Nonlinear Programming technique, so that the social benefit and the distance to a maximum loading condition are maximized at the same time. Two techniques are then proposed to include in the basic voltage stability constrained OPF method first class contingencies, represented here by line outages. The first technique computes an ALC value based on an N-1 contingency criterion for an initial optimal operating condition and then an OPF problem is solved for the worst contingency case. The second approach solves a reduced number of OPF problems associated with the power transfer sensitivity analysis of transmission lines. Finally, a study of a multi-period market clearing mechanism with inclusion of voltage stability constraints is presented. The daily-ahead market schedule is solved using a Mixed Integer Nonlinear Programming method which allows combining the proposed voltage stability constraints with integer variables, such as unit commitments and ramping limits. Locational marginal prices and nodal congestion prices resulting from the proposed methods as well as comparisons with results obtained by means of standard techniques currently in use for solving electricity market problems are presented and discussed. All methods are tested on simple test systems and on a realistic 129-bus Italian network model considering supply and demand side bidding. Simulations were ob-

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