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Price-based Control of Electrical Power Systems

  • A. JokićEmail author
  • M. Lazar
  • P. P. J. van den Bosch
Chapter
Part of the Intelligent Systems, Control and Automation: Science and Engineering book series (ISCA, volume 42)

Abstract

In this chapter we present the price-based control as a suitable approach to solve some of the challenging problems facing future, market-based power systems. On the example of economically optimal power balance and transmission network congestion control, we present how global objectives and constraints can in real-time be translated into time-varying prices which adequately reflect the current state of the physical system. Furthermore, we show how the price signals can be efficiently used for control purposes. Becoming the crucial control signals, the time-varying prices are employed to optimally shape, coordinate and synchronize local, profit-driven behaviors of producers/consumers to mutually reinforce and guarantee global objectives and constraints. The main focus in the chapter is on exploiting specific structural properties of the global system constraints in the synthesis of price-based controllers. The global constraints arise from sparse and highly structured power flow equations. Preserving this structure in the controller synthesis implies that the devised solutions can be implemented in a distributed fashion.

Keywords

Power System Global Constraint Electrical Power System Power Balance Optimal Power Flow 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media B.V. 2010

Authors and Affiliations

  • A. Jokić
    • 1
    Email author
  • M. Lazar
    • 1
  • P. P. J. van den Bosch
    • 1
  1. 1.Department of Electrical EngineeringEindhoven University of TechnologyEindhovenThe Netherlands

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