A Profit-Maximizing Security-Constrained IV-AC Optimal Power Flow Model & Global Solution

Since its first formulation in 1962, the Alternating Current Optimal Power Flow (ACOPF) problem has been one of most important optimization problems electric power systems. Its common interpretation is a minimization generation costs subject to network flows, generator capacity constraints, line and bus voltage constraints. The main theoretical barrier solution that ACOPF non-convex consequently falls into as-yet-unsolved space NP-hard problems. To overcome this challenge, literature offered numerous relaxations approximations result computationally suboptimal solutions with potentially xmlns:xlink="http://www.w3.org/1999/xlink">degraded reliability . While impact on reliability can be addressed active control algorithms, energy regulators have estimated sub-optimality United States ~ $\$ $ 6–19B per year. Furthermore, beyond many applications system markets operation, sustainable transition necessitates renewed attention towards ACOPF. This paper contributes profit-maximizing security-constrained current-voltage AC optimal flow (IV-ACOPF) model xmlns:xlink="http://www.w3.org/1999/xlink">globally optimal algorithm. More specifically, it features convex separable objective function reflects two-sided electricity market. constraints are also exception set linear Collectively, enforce capacities, thermal limits, magnitudes, factor stability. program solved using Newton-Raphson algorithm numerically demonstrated data from transient stability test case. numerical results confirm globally solution.