Research # - 2 - : Economic Operation of Power Systems: ND ST
Research # - 2 - : Economic Operation of Power Systems: ND ST
Requirements
Engineering Lettering
Illustrate the figures
Submission will be on the 22nd for the research and 21st for the laboratory
RESEARCH 2
POWER MARKET
The power market facilitates buying and selling electricity between generators, suppliers,
and consumers. It has two main components:
Grid operators ensure balance and reliability, while competition in the market drives
efficiency and cost-effectiveness. Increasing integration of renewables, storage, and
demand-response mechanisms shapes modern market dynamics.
Balancing power generation with market demand involves matching electricity supply with
real-time consumption while maintaining grid stability. This starts with demand forecasting,
where operators predict consumption patterns using historical data, weather forecasts, and
economic factors. Based on this, generation is scheduled through economic dispatch,
prioritizing cost-effective plants while meeting technical constraints.
During operations, real-time adjustments are made using fast-response resources like gas
turbines, batteries, or demand-response programs to address sudden demand changes or
generation outages. Market mechanisms, such as day-ahead and real-time markets, send
price signals that encourage generators and consumers to adjust their behavior to maintain
balance. Reserves and ancillary services provide backup power and support grid
frequency and voltage stability, ensuring a seamless supply-demand match under fluctuating
conditions.
1. Load Flow Analysis: the numerical analysis of the flow of electric power in an
interconnected power system. In operating studies, load flow analysis is used to
ensure that each power generation unit runs at the optimum operating point; demand
will be met without overloading facilities; and maintenance plans can proceed without
undermining the security of the system.
2. Optimal Power Flow: determines the minimum operating costs of an interconnected
power system by dispatching generation resources to supply system loads and to
take into account generation unit constraints.
3. Economic Dispatch: It determines the output of each generator in the system, such
that the total production cost is minimized, while meeting the load demand and the
transmission losses. Economic dispatch can also consider environmental factors,
such as emission limits, renewable energy sources, and carbon taxes.
4. Reliability Analysis: measure of a power systems ability to supply adequate
electricity to meet up with the demand. Reliability analysis involves studying the
probability of failure, downtime and overall performance of components within the
power system.
SYNCHRONOUS GENERATOR
The synchronous generator, also known as an alternator, is an electrical device that
transforms mechanical energy from a prime mover into AC electric power at a specific
voltage and frequency. The synchronous motor operates at a consistent speed known as
the synchronous speed. A synchronous generator is a type of electrical generator that is
used widely in power generation. The term "synchronous" refers to the synchronization
between the rotational speed of the rotor and the frequency of the alternating current
(AC) output.
WHAT IS AN AC TRANSFORMER?