Social welfare maximization in transmission enhancement considering network congestion

Hongrui Liu, Yang Shen, Zelba B. Zabinsky, Chen Ching Liu, Alan Courts, Sung-Kwan Joo

Research output: Contribution to journalArticle

56 Citations (Scopus)

Abstract

Transmission enhancement in a competitive electricity market is analyzed in terms of its impact on the social welfare. A formulation of social welfare and the utility functions are derived in this research. Variations of supply and demand during a year are considered in transmission enhancement decisions. The proposed social welfare optimization problem is solved to determine the transmission congestion status under the optimal condition of the existing system. Transmission enhancement options are compared quantitatively to demonstrate their ability to increase social welfare, which provides valuable information for long-term transmission. The proposed method provides a systematic and quantitative tool for social welfare evaluation that is not available in industry today.

Original languageEnglish
Pages (from-to)1105-1114
Number of pages10
JournalIEEE Transactions on Power Systems
Volume23
Issue number3
DOIs
Publication statusPublished - 2008 Aug 18

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Industry
Power markets

Keywords

  • Power market
  • Sequential quadratic programming (SQP)
  • Social welfare function (SWF)
  • Transmission congestion
  • Transmission enhancement

ASJC Scopus subject areas

  • Electrical and Electronic Engineering

Cite this

Social welfare maximization in transmission enhancement considering network congestion. / Liu, Hongrui; Shen, Yang; Zabinsky, Zelba B.; Liu, Chen Ching; Courts, Alan; Joo, Sung-Kwan.

In: IEEE Transactions on Power Systems, Vol. 23, No. 3, 18.08.2008, p. 1105-1114.

Research output: Contribution to journalArticle

Liu, Hongrui ; Shen, Yang ; Zabinsky, Zelba B. ; Liu, Chen Ching ; Courts, Alan ; Joo, Sung-Kwan. / Social welfare maximization in transmission enhancement considering network congestion. In: IEEE Transactions on Power Systems. 2008 ; Vol. 23, No. 3. pp. 1105-1114.
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