1 research outputs found
Convex Relaxation Based Locational Marginal Prices
We propose and analyze semidefinite relaxation based locational marginal
prices (RLMPs) for real and reactive power in electricity markets. Our analysis
reveals that when the non-convex economic dispatch problem has zero duality
gap, the RLMPs exhibit properties similar to locational marginal prices with
linearized power flow equations. Otherwise, they behave similar to convex hull
prices. Restricted to radial distribution networks, RLMPs reduce to
second-order cone relaxation based distribution locational marginal prices. We
illustrate our theoretical results on numerical examples.Comment: 18 pages, 3 figures and 1 table. Journal pape