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Recitation11

Recitation11 - Economic Operation of Power Systems 18-418...

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1 Economic Operation of Power Systems 18-418: Recitation #11 Dr. Jovan Ilic Dr. Nermeen T. Mahmoud November 18,2009

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2 Example 1 [1] The operator of a centralized electrical energy market received the following supply bids for an one hour period: G2 G1 G3 Load Lossless Transmission Line (MW)
3 Supply Curve Building the Supply Curve Arrange the bids in increasing order of bid price. Plot the resulting staircase function. The length of each step is equal to the amount of each bid. Label each step with the name of the company that submitted the bid.

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4 Supply Curve (MW) (MW)
5 Supply Curve

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6 Market Price What would be the price for the 400MW load? Load 400 MW, The market price is 13\$/MWh
7 The Revenue The accepted generator bids and revenues for the load of 400 MW for an one hour period: Therefore the total revenues are as follows: Blue:\$3900. Red:\$1300. Green:\$0. (MWh)

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8 Variation of the Demand If the demand changed to 600 MW, what would be the price ?
9 Variation of the Demand

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Recitation11 - Economic Operation of Power Systems 18-418...

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