Practical Security Boundary-Constrained DC Optimal Power Flow for Electricity Markets

This paper provides a systematic approach to address the fundamental electricity auction issue regarding how to include security boundaries associated with system stability into a security-constrained DC-OPF-based model. These boundaries are linearly approximated by a reduced number of hyperplanes, from which a set of linear inequality security/stability constraints is derived and included into a proposed voltage security-constrained DC-OPF auction model. This allows the proper implementation of a true DC formulation, taking full advantage of its associated simplicity and robustness in the solution algorithm. Case studies are presented to illustrate the applicability of the proposed method and to demonstrate that the market clearing and power dispatch resulting from the optimization solution process are within the desired feasible and secure region, contrary to the typical security constrained DC-OPF auction model, which may fail to meet this condition.