Journal
PROCEEDINGS OF THE IEEE
Volume 104, Issue 4, Pages 807-836Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/JPROC.2016.2520758
Keywords
Distributed power market clearing; distribution network locational marginal prices (DLMP); proximal message passing (PMP); reactive power pricing; reserve pricing
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Funding
- National Science Foundation (NSF) [1038230]
- Directorate For Engineering
- Emerging Frontiers & Multidisciplinary Activities [1038230] Funding Source: National Science Foundation
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Marginal-cost-based dynamic pricing of electricity services, including real power, reactive power, and reserves, may provide unprecedented efficiencies and system synergies that are pivotal to the sustainability of massive renewable generation integration. Extension of wholesale high-voltage power markets to allow distribution network connected prosumers to participate, albeit desirable, has stalled on high transaction costs and the lack of a tractable market clearing framework. This paper presents a distributed, massively parallel architecture that enables tractable transmission and distribution locational marginal price (T&DLMP) discovery along with optimal scheduling of centralized generation, decentralized conventional and flexible loads, and distributed energy resources (DERs). DERs include distributed generation; electric vehicle (EV) battery charging and storage; heating, ventilating, and air conditioning (HVAC) and combined heat & power (CHP) microgenerators; computing; volt/var control devices; grid-friendly appliances; smart transformers; and more. The proposed iterative distributed architecture can discover T& DLMPs while capturing the full complexity of each participating DER's intertemporal preferences and physical system dynamics.
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