On interchange scheduling in multi-area electric power systems-Distributed Optimization and Market Mechanism
For historical and technical reasons, different parts of an interconnected power system and its associated assets are usually managed by different system operators (SOs). The internal dispatch in each area has been relatively mature, therefore the overall efficiency of the system largely depends on the interchange scheduling between different areas. Unfortunately, reports conducted by real system operators indicate that conventional interchange scheduling techniques have resulted in substantial economic losses, estimated to the tune of $784M for NYISO and ISO-NE between 2006 and 2010.
In this presentation, I will address two aspects of problems relating to this issue. Regarding the solution of the optimal interchange, we have proposed a novel approach to solve the distributed linear or convex quadratic programming. The proposed algorithm converges to the optimal dispatch within a finite number of steps. According to our intuitions and simulations, it is much better in convergence and efficiency than benchmarks such as ADMM and Benders Decomposition for power and energy systems. Regarding the implementation of the optimal interchange in electricity markets, we have generalized the state-of-the-art market-based interchange scheduling: transaction scheduling (CTS), and thereby proved that perfect interface bids asymptotically achieve seamless interfaces between regional markets. In essence, we have partly addressed a key question in the design of electricity markets: Perfect arbitrations may lead to price convergence in the spatial dimension.
Speaker: Ye Guo, Associate Postdoc
Ye Guo is a Postdoc Associate at the School of Electrical and Computer Engineering, Cornell University. He received his bachelor degree in 2008 and doctoral degree in 2013, both from Tsinghua University, China. His research interests include distributed optimization, game and market theory, state estimation, and their applications in smart grids and large energy systems. He was recognized as an excellent Ph.D. student by Chinese Education Ministry and received the top-rank scholarship from Tsinghua University. He has also received the Best Poster Award at PSERC IAB Meeting 2018 and the Best Poster Award in Midwest Workshop in Control and Game Theory.