ASU Electronic Theses and Dissertations
This collection includes most of the ASU Theses and Dissertations from 2011 to present. ASU Theses and Dissertations are available in downloadable PDF format; however, a small percentage of items are under embargo. Information about the dissertations/theses includes degree information, committee members, an abstract, supporting data or media.
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- All Subjects: Theory of constraints (Management)
- Creators: Vittal, Vijay
Proposed market solutions are often infeasible because constraint relaxation practices and approximations that are incorporated into market models. Therefore, the dispatch solution must be corrected to ensure its feasibility. The practice of correcting the proposed dispatch solution after the market is solved is known as out-of-market corrections (OMCs), defined as any action an operator takes that modifies a proposed day-ahead dispatch solution to ensure operating and reliability requirements. The way in which OMCs affect market outcomes is illustrated through the use of different corrective procedures. The objective of the work presented is to demonstrate the implications of these industry practices and assess the impact these practices have on market outcomes.
Constraint relaxations practice was replicated in this work using a test case and a real-life large-scale system, while capturing both energy market aspects and AC real-time system performance. System performance investigation included static and dynamic security analysis for base-case and post-contingency operating conditions. PJM peak hour loads were dynamically modeled in order to capture delayed voltage recovery and sustained depressed voltage profiles as a result of reactive power deficiency caused by constraint relaxations. Moreover, impacts of constraint relaxations on operational system security were investigated when risk based penalty prices are used. Transmission lines in the PJM system were categorized according to their risk index and each category was as-signed a different penalty price accordingly in order to avoid real-time overloads on high risk lines.
This work also extends the investigation of constraint relaxations to post-contingency relaxations, where emergency limits are allowed to be relaxed in energy market models. Various scenarios were investigated to capture and compare between the impacts of base-case and post-contingency relaxations on real-time system performance, including the presence of both relaxations simultaneously. The effect of penalty prices on the number and magnitude of relaxations was investigated as well.