Power systems marginal cost curve and its applications

Abstract

This paper presents a forward recursive procedure to calculate the expected system marginal cost curve (EMC). The EMC formulation allows for multi-state and multi-block dispatch of generating units and is used to determine the optimal energy of pumped-storage units. A new approach is developed to compute the first and second derivatives of the expected generation energy of a thermal unit with respect to the capacity of all thermal units in the system. The salient feature of the proposed approach is that it applies to hydro-thermal systems with multiple limited-energy hydro units.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">&gt;</ETX>