Dynamic economic load dispatch is one of the most important roles of power generation’s operation and control. It determines the optimal controls of production of generator units with predicted load demand over a certain period of time. Economic dispatch a subjects in the power network’s operation, which is a complicated nonlinear constrained optimization problem. Since dynamic economic load di...

As the Electric Distribution industry enters the Smart Grid era, it is deploying a variety of new technologies (including distributed energy resources) and communications infrastructure to enhance the performance of the distribution grid, improve customer satisfaction and reduce the carbon footprint. On the one hand, these new Smart Grid investments look as though they will pay off as customers...

In this paper, an economic dispatch model with probabilistic modeling is developed for a microgrid. The electric power supply in a microgrid consists of conventional power plants and renewable energy power plants, such as wind and solar power plants. Because of the fluctuation in the output of solar and wind power plants, an empirical probabilistic model is developed to predict their hourly out...

With the growing complexity of the current power grid, there is an increasing need for intelligent operations coordinating energy supply and demand. A key feature of the smart grid vision is that intelligent mechanisms will coordinate the production, transmission, and consumption of energy in a distributed and reliable way. Economic Dispatch (ED) and Demand Response (DR) are two key problems th...

The energy flow characteristics of Combined Cooling, Heating and Power (CCHP) system are analyzed in detail and the energy flow function is proposed for its two operational strategies: thermal load dominant mode and electrical load dominant mode. In order to improve its economic and environmental efficiency, an optimal economic and environmental dispatch model is built, which includes the fuel ...

The adoption of smart grid systems has been accelerating around the world, with many pilot projects initiated throughout the developed world. However, there has been a lack of studies quantifying appliance level economic benefits that are available to the end consumers. Through coupling historical market information with an agent based residential load model, this study has quantified the econo...

Climate change as the greatest environmental challenge facing the world today. Power stations play a major role in greenhouse gas emissions. Nearly 21.3% of green house gases are emitted by power plants alone. The main sources of greenhouse gases are due to burning of fossil fuels and deforestation leading to higher carbon dioxide concentrations. Normally CO2 in the atmosphere is removed by mix...

This paper proposes a game-theoretic framework for quantifying effects of strategic bidding behavior of load aggregators (LAs) on wholesale electricity market equilibrium. The independent system operator (ISO) employs double-sided auction design to settle transactions in the wholesale electricity market. Generating companies (GENCOs) and LAs submit their bids to the ISO in the economic model of...