Evaluating the Impact of PV Power Plants Effect on Electricity Cost and Shadow Price Minimization
Document Type
Article
Publication Date
1-2020
Abstract
The increase reliance on competitive electricity market has led to widespread research to reallocate energy sources and minimize the price of energy and the services related to it. The main aim that drives the design of any energy market, is the minimization of the cost of generation that meets the balance between the supply and demand and minimizes transmission congestion. This aim is attained through a transparent and open competitive market. In this paper, minimization of the shadow price is achieved by dividing the electricity grid into multiple regions. Every region will have a different shadow price depending on the load demand and the power plants available to supply the demand at this region. The market clearing price of each region is set as the price of generation of the highest power plant sharing in supplying the load demand at this region. In order to control the electricity market and reduce the market clearing price, this study proposed introducing renewable energy power plants which has lower generation cost in comparison with the conventional power plants. Sizing and allocation of the renewable energy power plants in the Egyptian unified power network is studied carefully from the technical and economical point of view to maximize the benefit and minimize the overall cost function and shadow price.
Recommended Citation
Nazih, Nathalie; El Khattam, Walid; and Abdelsalam, Tarek Saad, "Evaluating the Impact of PV Power Plants Effect on Electricity Cost and Shadow Price Minimization" (2020). Electrical Engineering. 66.
https://buescholar.bue.edu.eg/elec_eng/66
