Economic Evaluation of Small Signal Stability as an Ancillary Service in a Competitive Electricity Market


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Abstract


In recent years, real power networks have experienced more low frequency oscillations. This paper proposes new multi objective decision making structure for Independent System Operator (ISO) of a competitive electricity market, in which the generation costs of a single auction market and power system damping factor are optimized together. In this process, the best tuning strategy for power system stabilizers, as the main device for damping factor improvement, is determined. Furthermore, the effects of using PSSs and their tuning can be evaluated. NSGA-II approach is used to solve the resulting multi objective optimization problem. The proposed method is tested on IEEE 39-bus system and results are reported
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Keywords


Small Signal Stability; Multi-Objective Optimization; Power System Dynamic; Power; System Stabilizer; NSGA-II

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References


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