Petoussis, S. G., Petoussis, Andreas G., Zhang, X.-P. and Godfrey, Keith. (2008) Impact of the transformer tap-ratio control on the electricity market equilibrium. IEEE Transactions on Power Systems, Vol.23 (No.1). pp. 65-75. ISSN 0885-8950

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Abstract

In this paper, the primal-dual nonlinear interior point method has been used as a basis for the derivation of a novel supply function equilibrium (SFE) algorithm for modeling the strategic interactions in the electricity market, using the ac network model, which incorporates modeling of the transformer tap-ratio control. The algorithm is used to investigate the impact of transformer tap-ratio control on the electricity market equilibrium and the effect of the interactions between network constraints and transformer tap-ratio control. The interior point social welfare optimization problem is combined with the optimization problem for maximizing the profit of each strategic generating firm in the market. The final combined single-level SFE problem is solved iteratively based on solution techniques of the interior point method. Numerical examples illustrate the effect of network constraints and especially the impact of transformer tap-ratio control on market equilibrium.

Item Type:	Journal Article
Subjects:	H Social Sciences > HB Economic Theory T Technology > TK Electrical engineering. Electronics Nuclear engineering
Divisions:	Faculty of Science > Engineering
Library of Congress Subject Headings (LCSH):	Electric power systems -- Economic aspects, Electric power transmission -- Economic aspects, Electric transformers -- Economic aspects, Equilibrium (Economics), Algorithms
Journal or Publication Title:	IEEE Transactions on Power Systems
Publisher:	IEEE
ISSN:	0885-8950
Date:	February 2008
Volume:	Vol.23
Number:	No.1
Number of Pages:	11
Page Range:	pp. 65-75
Identification Number:	10.1109/TPWRS.2007.913203
Status:	Peer Reviewed
Publication Status:	Published
Access rights to Published version:	Restricted or Subscription Access
URI:	http://wrap.warwick.ac.uk/id/eprint/30675

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