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Integrated Learning and Optimization for Congestion Management and Profit Maximization in Real-Time Electricity Market

Created by
  • Haebom

Author

Imran Pervez, Ricardo Pinto Lima, Omar Knio

Outline

This paper develops a novel integrated learning and optimization (ILO) methodology to solve the economic distribution (ED) and DC optimal power flow (DCOPF) problems to improve economic operation. The optimization problem for ED is formulated with load as an unknown parameter, while DCOPF consists of load and power transfer distribution factor (PTDF) matrix as unknown parameters. PTDF represents the incremental change in the actual power of a transmission line due to the actual power transfer between two regions. It represents a linearized approximation of the power flow through the transmission line. In this paper, we develop a novel ILO formulation to solve the post-penalty, power market, and line overload problems using the ED and DCOPF optimization formulations. The proposed methodology trains the regret function by capturing the real-time power market and line overload behaviors, and eventually trains the unknown load and line PTDF matrix on various buses to achieve the aforementioned post-penalty objectives. The proposed methodology is compared with sequential learning and optimization (SLO), which trains the accuracy of load and PTDF predictions rather than economic operation. The experimental results demonstrate the superiority of ILO in improving economic operation in a noticeable way by minimizing ex post penalties and line overload in the electricity market.

Takeaways, Limitations

Takeaways:
Improving the efficiency of solving economic decentralization (ED) and DC optimal power flow (DCOPF) problems using integrated learning and optimization (ILO) methodology.
Minimizing post-penalty considering real-time power market and line overload issues.
Demonstrating improved economic operational performance compared to sequential learning and optimization (SLO) methodology.
Limitations:
Possible differences from real systems in that the PTDF matrix is a linearized approximation of the power flow.
Since these are experimental results for a specific power system and market environment, further research is needed to determine generalizability.
Further analysis is needed on the computational complexity and real-time applicability of the ILO methodology.
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