This paper outlines the fundamental features of the PJM day-ahead energy market and real-time energy market. The Day-ahead market is based on a voluntary least-cost security constrained unit commitment and dispatch with several fundamental design features that ensure the market is robust and competitive. This market offers market participants the option to lock in energy and transportation char...

one of the significant strategies of the power systems is economic dispatch (ed) problem, which is defined as the optimal generation of power units to produce energy at the lowest cost by fulfilling the demand within several limits. the undeniable impacts of ramp rate limits, valve loading, prohibited operating zone, spinning reserve and multi-fuel option on the economic dispatch of practical p...

This paper presents an application of BAT algorithm for multi-objective optimization problem in power system. Considering the environmental impacts that grow from the emissions produced by fossil-fuelled power plant, the economic dispatch that minimizes only the total fuel cost can no longer be considered as single objective. Application of BAT algorithm in this paper is based on mathematical m...

Currently, there is a national push for a smarter electric grid, one that is more controllable and flexible. The full control of transmission assets are not currently built into electric network optimization models. Optimal transmission switching is a straightforward way to leverage grid controllability: to make better use of the existing system and meet growing demand with existing infrastruct...

Electric power industry should play a bigger role in energy conservation and emission reduction, while the ecosystem degradation rises because of the shortage of energy, the greenhouse effect and the environmental pollution. Power generation dispatch is the key practice in electric power industry. In this paper, the value based dispatch theory is proposed, which assign the value of the natural ...

Smart grid concept is introduced to modify the power grid by utilizing new information and communication technology. Smart grid needs live power consumption monitoring to provide required services and for this issue, bi-directional communication is essential. Security and privacy are the most important requirements that should be provided in the communication. Because of the complex design of s...