Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems
Market-based control is a control approach that can be used to organize resource control problems by establishing an artificial market economy for the allocation of these resources. In such system, the set of market-clearing prices is the set of prices that result in an equilibrium between demanded...
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| Format: | Article |
| Language: | English |
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IEEE
2024-01-01
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| Series: | IEEE Open Access Journal of Power and Energy |
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| Online Access: | https://ieeexplore.ieee.org/document/10756704/ |
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| author | Musharrat Sabah Aaron M. Cramer Yuan Liao |
| author_facet | Musharrat Sabah Aaron M. Cramer Yuan Liao |
| author_sort | Musharrat Sabah |
| collection | DOAJ |
| description | Market-based control is a control approach that can be used to organize resource control problems by establishing an artificial market economy for the allocation of these resources. In such system, the set of market-clearing prices is the set of prices that result in an equilibrium between demanded and supplied resources throughout the system. In this paper, a new method has been proposed for solving the market-clearing problem, the problem of determining the market-clearing prices. The algorithm is applied on a complex representative power system and three simplified power systems based on the representative system under different operational scenarios. The proposed method is compared with existing reference root-finding algorithms. The comparison illustrates the proposed algorithm’s ability to address the numerical challenges the market-clearing problem poses. Dynamic simulation has been used to demonstrate the efficacy of the proposed algorithm in clearing the market in a wide range of dynamic conditions. |
| format | Article |
| id | doaj-art-8485c785369a495bb065db8e59641236 |
| institution | Kabale University |
| issn | 2687-7910 |
| language | English |
| publishDate | 2024-01-01 |
| publisher | IEEE |
| record_format | Article |
| series | IEEE Open Access Journal of Power and Energy |
| spelling | doaj-art-8485c785369a495bb065db8e596412362025-01-21T00:03:21ZengIEEEIEEE Open Access Journal of Power and Energy2687-79102024-01-011166567510.1109/OAJPE.2024.350157510756704Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution SystemsMusharrat Sabah0https://orcid.org/0009-0009-5749-0366Aaron M. Cramer1https://orcid.org/0000-0003-4850-8252Yuan Liao2https://orcid.org/0000-0002-5924-5390Department of Electrical and Computer Engineering, University of Kentucky, Lexington, KY, USADepartment of Electrical and Computer Engineering, University of Kentucky, Lexington, KY, USADepartment of Electrical and Computer Engineering, University of Kentucky, Lexington, KY, USAMarket-based control is a control approach that can be used to organize resource control problems by establishing an artificial market economy for the allocation of these resources. In such system, the set of market-clearing prices is the set of prices that result in an equilibrium between demanded and supplied resources throughout the system. In this paper, a new method has been proposed for solving the market-clearing problem, the problem of determining the market-clearing prices. The algorithm is applied on a complex representative power system and three simplified power systems based on the representative system under different operational scenarios. The proposed method is compared with existing reference root-finding algorithms. The comparison illustrates the proposed algorithm’s ability to address the numerical challenges the market-clearing problem poses. Dynamic simulation has been used to demonstrate the efficacy of the proposed algorithm in clearing the market in a wide range of dynamic conditions.https://ieeexplore.ieee.org/document/10756704/Root-findingMonte-CarloJacobianBroydenNewton-Raphsonprice |
| spellingShingle | Musharrat Sabah Aaron M. Cramer Yuan Liao Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems IEEE Open Access Journal of Power and Energy Root-finding Monte-Carlo Jacobian Broyden Newton-Raphson price |
| title | Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems |
| title_full | Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems |
| title_fullStr | Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems |
| title_full_unstemmed | Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems |
| title_short | Numerical Algorithm for Solving Market Clearing Problem in Power Electronics-Based Power Distribution Systems |
| title_sort | numerical algorithm for solving market clearing problem in power electronics based power distribution systems |
| topic | Root-finding Monte-Carlo Jacobian Broyden Newton-Raphson price |
| url | https://ieeexplore.ieee.org/document/10756704/ |
| work_keys_str_mv | AT musharratsabah numericalalgorithmforsolvingmarketclearingprobleminpowerelectronicsbasedpowerdistributionsystems AT aaronmcramer numericalalgorithmforsolvingmarketclearingprobleminpowerelectronicsbasedpowerdistributionsystems AT yuanliao numericalalgorithmforsolvingmarketclearingprobleminpowerelectronicsbasedpowerdistributionsystems |