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Economic Dispatch 2
Smith College, EGR 325
March 10, 2006
Overview
Complex system time scale separation
Least cost system operation
Economic dispatch first view
Generator cost characteristics
Constrained Optimization
& Economic Dispatch
$/hr (fuel-cost)
dCi ( PGi )
ICi ( PGi )
2 PGi $/MWh
dPGi
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Economic Dispatch
An economic dispatch results in all the
generator generating at a level where they
have equal marginal costs (for a lossless
system)
$ / hr
C2 ( PG 2 ) 400 15 PG 2 0.03PG22
$ / hr
Then
dC1 ( PG1 )
IC1 ( PG1 )
20 0.02 PG1 $/MWh
dPG1
dC2 ( PG 2 )
IC2 ( PG 2 )
15 0.06 PG 2 $/MWh
dPG 2
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$6025/hr
Then
IC1 (250) 20 0.02 250 $ 25/MWh
IC2 (150) 15 0.06 150 $ 24/MWh
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Minimize
CT @ Ci ( PGi )
i 1
Such that
m
PGi PD PLosses
i=1
Initially we'll
ignore generator
limits and the
losses
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Unconstrained Minimization
This is a minimization problem with a single
inequality constraint
For an unconstrained minimization a
necessary (but not sufficient) condition for a
minimum is the gradient of the function must
be zero,
f ( x ) 0
The gradient generalizes the first derivative
for multi-variable problems:
f (x) f (x)
f (x)
f (x) @
,
,K ,
1
2
n
12
i 1
i 1
Ci ( PGi ) ( PD PGi )
(no losses)
0 (for i 1 to m)
PGi
dPGi
m
PD PGi 0
i 1
14
$ / hr
C2 ( PG 2 ) 400 15 PG 2 0.03PG22
$ / hr
dPG 2
15 0.06 PG 2
500 PG1 PG 2 0
0
15
500 PG1 PG 2 0
0
1 P G1
0.02
20
0
0.06 1 P G 2 15
1 0
500
1
PG1
312.5 MW
P 187.5 MW
G 2
26.2 $/MWh
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Objective function
Constraints
Decision variables
Variable bounds
Standard form
min cx
s.t. Ax = b
xmin <= x <= xmax
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20
Constrained Optimization
& Economic Dispatch
The Lagrangean
21
22
PGi = PL
23
Lagrangean Example
max g(x) = 5x12x2
s.t.
h(x) = x1 + x2 = 6 or x1 + x2 6 = 0
Formulate L =
L = g(x) h(x)
Find ?
dL/dx1, dL/dx2, dL/d
x1 = 4, x2 = 2, = 80
24
L CT PGi PL
25
26
27
500 PG1 PG 2 0
0
1 P G1
0.02
20
0
0.06 1 P G 2 15
1 0
500
1
PG1
312.5 MW
P 187.5 MW
G 2
26.2 $/MWh
28
= $26.2/MWh
29
Discussion
Key results for Economic Dispatch?
Incremental cost of all generating units is
equal
This incremental cost is the Lagrangean
multiplier,
is called the System and is the systemwide cost of generating electricity
This is the price charged to customers
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Summary
Economic dispatch is used to determine
the least cost means of using existing
generating plants to meet electric demand
To calculate the economic dispatch for a
power system, the techniques of linear
programming + the Lagrangean are used
Now to a review of the production cost
homework results...
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