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Please use this identifier to cite or link to this item: http://repository.iitr.ac.in/handle/123456789/7021
Title: A strategy for FTR bidding in deregulated electricity markets
Authors: Jain R.
Siddiqui A.S.
Jamil M.
Gupta, Chandra Prakash
Preeti
Published in: International Journal of Systems Assurance Engineering and Management
Abstract: This paper presents a strategy to evaluate the financial transmission rights (FTRs) bids of the electricity market participants using locational marginal price (LMP) technique and serve as an important instrument for hedging the risk of congestion charges. In deregulated electricity markets, FTRs are allocated through the process of auction to reduce the losses in congestion management by making bids for different transmission lines. The main objective of an auction is to maximize revenues from FTRs. A generalized mathematical model of FTR auction for maximising revenues and availability to all entrepreneurs on non-discriminatory basis to keep the system within limits is developed. The FTRs and LMP of 14 bus system are calculated in this paper using the software program developed in MATLAB determines the congestion credits. FTR congestion credits are calculated based on average locational marginal price. Introducing a hybrid scheme for congestion management and FTRs, facilitates the new restructured power system to deal with congestion charges and credits and helps in presenting a new approach for transmission pricing. A numerical example of 14 bus system has been illustrated for analysing the results and supports the approach. © 2014, The Society for Reliability Engineering, Quality and Operations Management (SREQOM), India and The Division of Operation and Maintenance, Lulea University of Technology, Sweden.
Citation: International Journal of Systems Assurance Engineering and Management (2017), 8(): 78-89
URI: https://doi.org/10.1007/s13198-014-0275-9
http://repository.iitr.ac.in/handle/123456789/7021
Issue Date: 2017
Publisher: Springer India
Keywords: Deregulated electricity markets
Financial transmission rights
Independent system operators
Locational marginal price
ISSN: 9756809
Author Scopus IDs: 57191853623
55184930700
57191203774
7202352469
56677553700
Author Affiliations: Jain, R., Electrical Department, YMCA University, Faridabad, India
Siddiqui, A.S., Department of Electrical Engineering, Jamia Millia Islamia, New Delhi, India
Jamil, M., Department of Electrical Engineering, Jamia Millia Islamia, New Delhi, India
Gupta, C.P., Electrical Department, Indian Institute of Technology, Roorkee, India
Preeti, Electrical Department, YMCA University, Faridabad, India
Corresponding Author: Preeti; Electrical Department, YMCA UniversityIndia; email: preeti200726@gmail.com
Appears in Collections:Journal Publications [EE]

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