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Monte Carlo simulation for evaluating retail wheeling effects |
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| Authors: | A. G. Bakirtzis Yong-Ha Kim A. P. Sakis Meliopoulos |
| Affiliation: | a Department of Electrical and Computer Engineering, Aristotle University of Thesssaloniki, 540 06 Thessaloniki, Greece b Department of Electrical Engineering, University of Inchon, Inchon, South Korea c School of Electrical and Computer Engineering, Georgia Institute of Technology, Atlanta, GA 30332-0250, USA |
| Abstract: | A Monte Carlo simulation method for evaluating retail-wheeling effects on power systems is formulated and solution methods are presented. The effects of wheeling on operating cost, transmission losses, and system security are considered. For a specific operating condition, the effects are quantified by the sensitivity of specific quantities of interest with respect to power wheeling level. Quantities of interest are total operating cost, transmission losses and security, which is quantified with several indices. This model is utilized within a Monte Carlo simulation to calculate probability distribution functions of the incremental effects of wheeling on operating cost, transmission losses, and system security. The model and solution methods are applied on an example power system and the results are presented. |
| Keywords: | Monte Carlo simulation Wheeling effects |
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