Getting Dynamic Line Ratings into Markets
Static transmission line ratings may lead to underutilization of line capacity due to overly conservative (worst-case) assumptions. Grid-enhancing technologies (GETs) such as dynamic line ratings (DLRs), which adjust line capacity based on real-time conditions, are a techno-economically viable alternative to increase the utilization of existing power lines. Nonetheless, their adoption has been slow, partly due to the absence of operational tools that effectively account for simultaneous impacts on dispatch and pricing. In this paper, we represent transmission capacity with DLRs as a stock-like resource with time-variant interdependency, which is modeled via an approximation of line temperature evolution process, decoupling the impacts of ambient weather conditions and power flow on transmission line temperature and thus capacity. We integrate DLRs into a multi-period DC optimal power flow problem, with chance constrains addressing correlated uncertainty in DLRs and renewable generation. This yields non-convex problems that we transform into a tractable convex form by linearization. We derive locational marginal energy and ancillary services prices consistent with a competitive equilibrium. Numerical experiments on the 11-zone and 1814-node NYISO systems demonstrate its performance, including impacts on dispatch, pricing, and marginal carbon emissions.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Measurement of Trustworthiness of the Online Reviews
In electronic commerce (e-commerce)markets, a decision-maker faces a sequential choice problem. Third-party intervention plays an important role in making purchase decisions in this choice process. For instance, while pu…
Decision MakingThe MADRS Pipeline: Supporting Depression Assessment in Clinical Trials
Depression is a major mental disorder for which diagnosis relies primarily on clinical assessments. Automated methods to support its detection via the psychiatric MADRS scale are getting more and more attention. While ex…
Random walks and market efficiency in Chinese and Indian equity markets
Hypothesis of Market Efficiency is an important concept for the investors across the globe holding diversified portfolios. With the world economy getting more integrated day by day, more people are investing in global em…
Selective Forgetting in Option Calibration: An Operator-Theoretic Gauss-Newton Framework
Calibration of option pricing models is routinely repeated as markets evolve, yet modern systems lack an operator for removing data from a calibrated model without full retraining. When quotes become stale, corrupted, or…
ESG-Valued Portfolio Optimization and Dynamic Asset Pricing
ESG ratings provide a quantitative measure for socially responsible investment. We present a unified framework for incorporating numeric ESG ratings into dynamic pricing theory. Specifically, we introduce an ESG-valued r…
Portfolio Optimization