M. Bhoopathi1,*, P. Palanivel2
Intelligent Automation & Soft Computing, Vol.31, No.1, pp. 143-159, 2022, DOI:10.32604/iasc.2022.017705
Abstract At present, the restructured electricity market has been a prominent research area and attracted attention. The motivation of the restructuring in the power system is to introduce the competition at various levels and to generate a correct economic signal to reduce the generation cost. As a result, it is required to have an effective price scheme to deliver useful information about the power. The pricing mechanism is dependent on the demand at the load level, the generator bids, and the limits of the transmission network. To address the congestion charges, Locational Marginal Pricing (LMP) is utilized in restructured electricity markets.… More >
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