Optimal trading strategy for GenCo in LMP-based and bilateral markets using self-organising hierarchical PSO

This paper proposes an optimal trading strategy for a generation company (GenCo) in multi-market environment including day-ahead spot and long term bilateral contract markets using self-organising hierarchical particle swarm optimisation with time-varying acceleration coefficients (SPSO-TVAC). The proposed trading strategy is formulated as a two-stage optimisation problem. Firstly, the GenCo’s objective model which is to maximise expected profit and to minimise risk of profit variation is solved by SPSO-TVAC. Secondly, the market clearing model which is to minimise system cost of locational marginal price (LMP) based market is solved by DC optimal power flow (DCOPF). The Monte Carlo method is employed to simulate other bidders’ behaviour in competitive environment. Test results on the PJM 5-bus system indicate that SPSO-TVAC is superior to inertia weight approach particle swarm optimisation (IWAPSO) and genetic algorithm (GA) in searching the optimal trading solution. In addition, different bilateral contract prices and spot demand significantly impact GenCos’ trading behaviour. Accordingly, the proposed approach could be a beneficial decision-making tool for a GenCo in energy trading.link_to_OA_fulltex

Electricity Tracing in Systems With and Without Circulating Flows: Physical Insights and Mathematical Proofs

This paper provides new insights into the electricity tracing methodology, by representing the inverted tracing upstream and downstream distribution matrices in the form of matrix power series and by applying linear algebra analysis. The n th matrix power represents the contribution of each node to power flows in the other nodes through paths of length exactly n in the digraph of flows. Such a representation proves the link between graph-based and linear equation-based approaches for electricity tracing. It also makes it possible to explain an earlier observation that circulating flows, which result in a cyclic directed graph of flows, can be detected by appearance of elements greater than one on the leading diagonal of the inverted tracing distribution matrices. Most importantly, for the first time a rigorous mathematical proof of the invertibility of the tracing distribution matrices is given, along with a proof of convergence for the matrix power series used in the paper; these proofs also allow an analysis of the conditioning of the tracing distribution matrices. Theoretical results are illustrated throughout using simple network examples

ASEAN towards clean and sustainable energy: Potentials, utilization and barriers

This paper reports the outcome of the project on “Capacity building in formulating harmonized policy instruments for the promotion of Renewable Energy and Energy Efficiency in the ASEAN member countries”. With the growing concerns about green house gas (GHG) emission and consequent climate change, renewable energy sources have become more attractive option for electricity generation around the world. Studies have been made on the status of renewable energy potential and utilization, major barriers in promoting renewable energy in ASEAN countries, major energy policies to overcome barriers, and existing renewable energy and energy efficiency policies in ASEAN countries. Paper concludes that ASEAN has not utilized its renewable energy resources anywhere near to the potential. Analysis found that the key factor that has to be amended is “policies and regulations in renewable energy and energy efficiency” at both country level and regional level. But, ASEAN is not yet ready for the full harmonization of the policies. However, it recommends that, with the project outputs it is possible to focus on the specific policy instruments common to most of the member countries, such that it could use to augment ASEAN Plan of Action for Energy Cooperation (APAEC) initiatives