Congestion management in dynamic security constrained open power markets

The greatest challenge facing deregulated and unbundled electricity supply industry is the operation of the grid in a non-discriminatory and equitable manner. Transmission pricing and congestion management have been at the center of the debate over facilitating greater competition of electric power generation. This paper studies dynamic security constrained congestion management in an unbundled electric power system. It is possible to reschedule the real power generation along with curtailment of real power loads/transactions to make the system dynamically secure after a fault. A conceptually reasonable and computationally feasible approach for the solution of this problem has been developed for a system with a mix of pool and contract dispatches.