University of Illinois Urbana-Champaign

Convex relaxation based locational marginal prices for electricity markets

Winnicki, Anna

Content Files
WINNICKI-THESIS-2020.pdf

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https://hdl.handle.net/2142/109550

Description

Title
Convex relaxation based locational marginal prices for electricity markets
Author(s)
Winnicki, Anna
Issue Date
2020-08-03
Director of Research (if dissertation) or Advisor (if thesis)
Bose, Subhonmesh
Department of Study
Electrical & Computer Eng
Discipline
Electrical & Computer Engr
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
M.S.
Degree Level
Thesis
Date of Ingest
2021-03-05T21:45:04Z
Keyword(s)
  • Convex relaxation
  • electricity markets
  • locational marginal prices
  • revenue adequacy
  • efficient market equilibrium
Abstract
We propose and analyze semidefinite relaxation-based locational marginal prices (RLMPs) for real and reactive power in electricity markets. Our analysis reveals that when the nonconvex economic dispatch problem has zero duality gap, the RLMPs exhibit properties similar to locational marginal prices with linearized power flow equations. Otherwise, they behave similarly to convex hull prices. Restricted to radial distribution networks, RLMPs reduce to second-order cone relaxation-based distribution locational marginal prices. We illustrate our theoretical results on numerical examples. We also investigate and analyze properties of convex relaxation-based prices to compensate for distributed energy resources (DERs) connected to a radial distribution grid. Our main contribution is the identification of sufficient conditions under which this distribution locational marginal pricing (DLMP) mechanism supports an efficient market equilibrium and is revenue adequate. We illustrate our analysis through examples.
Graduation Semester
2020-12
Type of Resource
Thesis
Permalink
http://hdl.handle.net/2142/109550
Copyright and License Information
Copyright 2020 Anna Winnicki

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