Real time economic dispatch and marginal costs calculation in CFE's northeast system

This paper presents a real time model developed to solve a constrained economic dispatch using the cost curve for an equivalent generator. The approach includes constraints such as reserve, transmission power interchanges, ramp rates and generator limits. The formulation combines the solution of coordination equations and a fast decoupled load flow (FDLF) is used to determine penalty factors and bus marginal costs. A model for a combined cycle power plant is described and included in the dispatch. Results on various test systems and study cases are presented using this formulation.