Power Systems Engineering Research Center

Project Summaries

Power Markets

Constraint Relaxations: Analyzing the Impacts on System Reliability, Dynamics, and Markets (M-29)

Summary System operators allow various constraints within power flow models to be relaxed, i.e., the constraint can be violated for a set penalty price. Such procedures were undertaken in an effort to: 1) limit shadow prices in the markets and 2) reduce the occurrence of infeasible solutions. This project team will: 1) develop a risk-based model to understand and report the impact of constraint relaxations on reliability, 2) develop stability models that examine the impact of constraint relaxations on system dynamics, 3) conduct economic and reliability studies to determine the appropriate price cap on the shadow prices and compare these findings to the currently implemented caps, 4) analyze the market implications of using price caps on shadow prices as well as propose alternative mechanisms.
Academic Team Members Project Leader:Kory Hedman (Arizona State Univ., khedman@asu.edu)
Team members: Vijay Vittal (Arizona State Univ., Vijay.Vittal@asu.edu)
Jim McCalley (Iowa State Univ., jdm@iastate.edu)
Industry Team Members Chien-Ning Yu (ABB), Feng Gao (ABB), Khosrow Moslehi (ABB), Xing Wang (Alstom Grid), David Gray (Alstom Grid), Jim Price (California ISO), Erik Ela (EPRI), Mahendra Patel (EPRI), Robert Entriken (EPRI), Feng Zhao (ISO New England), Li Zhang (Midcontinent ISO), Marissa Hummon (NREL), Michael Swider (New York ISO), Muhammad Marwali (New York ISO), Alva Svoboda (PG&E), Hong Chen (PJM), Jay Liu (PJM), Juan Castaneda (SCE)