Frequency-driven market mechanisms for optimal dispatch in power networks

This paper studies real-time bidding mechanisms for economic dispatch and frequency regulation in electrical power networks described by topologies with edge-disjoint cycles. We consider a market administered an independent system operator (ISO) where group of strategic generators participate Bertrand game competition. Generators bid prices at which they are willing to produce electricity. Each generator aims maximize their profit, while the ISO seeks minimize total generation cost respecting line flow limits regulate system. continuous-time process coupled swing dynamics network through use as feedback signal negotiation process. analyze stability resulting interconnected system, establishing convergence Nash equilibrium optimal levels. Simulations illustrate our theoretical findings.