Price-based control of electrical power systems

A. Jokic, M. Lazar, P.P.J. Bosch, van den

Research output: Chapter in Book/Report/Conference proceedingChapterAcademic

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 sys tems. 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 cur rent 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 timevarying 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 struc tured power flow equations. Preserving this structure in the controller synthesis implies that the devised solutions can be implemented in a distributed fashion.
LanguageEnglish
Title of host publicationIntelligent Infrastructures
EditorsR.R. Negenborn, Z. Lukszo, H. Hellendorn
Place of PublicationDordrecht
PublisherSpringer
Pages109-133
Number of pages24
ISBN (Print)978-90-481-3597-4
StatePublished - 2010

Publication series

NameIntelligent Systems, Control and Automation
Volume42
ISSN (Print)2213-8986

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Controllers
Structural properties
Profitability
Financial markets

Cite this

Jokic, A., Lazar, M., & Bosch, van den, P. P. J. (2010). Price-based control of electrical power systems. In R. R. Negenborn, Z. Lukszo, & H. Hellendorn (Eds.), Intelligent Infrastructures (pp. 109-133). (Intelligent Systems, Control and Automation; Vol. 42). Dordrecht: Springer.
Jokic, A. ; Lazar, M. ; Bosch, van den, P.P.J./ Price-based control of electrical power systems. Intelligent Infrastructures. editor / R.R. Negenborn ; Z. Lukszo ; H. Hellendorn. Dordrecht : Springer, 2010. pp. 109-133 (Intelligent Systems, Control and Automation).
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Jokic, A, Lazar, M & Bosch, van den, PPJ 2010, Price-based control of electrical power systems. in RR Negenborn, Z Lukszo & H Hellendorn (eds), Intelligent Infrastructures. Intelligent Systems, Control and Automation, vol. 42, Springer, Dordrecht, pp. 109-133.

Price-based control of electrical power systems. / Jokic, A.; Lazar, M.; Bosch, van den, P.P.J.

Intelligent Infrastructures. ed. / R.R. Negenborn; Z. Lukszo; H. Hellendorn. Dordrecht : Springer, 2010. p. 109-133 (Intelligent Systems, Control and Automation; Vol. 42).

Research output: Chapter in Book/Report/Conference proceedingChapterAcademic

TY - CHAP

T1 - Price-based control of electrical power systems

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AB - 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 sys tems. 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 cur rent 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 timevarying 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 struc tured power flow equations. Preserving this structure in the controller synthesis implies that the devised solutions can be implemented in a distributed fashion.

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SN - 978-90-481-3597-4

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BT - Intelligent Infrastructures

PB - Springer

CY - Dordrecht

ER -

Jokic A, Lazar M, Bosch, van den PPJ. Price-based control of electrical power systems. In Negenborn RR, Lukszo Z, Hellendorn H, editors, Intelligent Infrastructures. Dordrecht: Springer. 2010. p. 109-133. (Intelligent Systems, Control and Automation).