Power System and LMP Fundamentals

August 29-30, 2005 - Hilton Garden Inn - Chicago, IL
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Overview:

This course will help in understanding how electric energy Location Based Marginal Prices (LMP) are calculated and used. It will describe fundamental properties of the LMP and how these properties can be used to understand the clearing of the market. There are no assumptions made on the level of the audience knowledge, so all the fundamental concepts like Network Model hierarchy, linear analysis and sensitivities, Economic Dispatch formulation, LMP components, etc. are discussed. All concepts are demonstrated with the examples and computer simulations. Specific attention will be paid to the issue of Marginal Loss pricing, price components, and their meaning. Interactions of Market Players bid/offer strategies with LMP calculations will also be explored, demonstrated with simulations and explained. Register today!

Course Outline:

Monday, August 29

Electrical Network and Its Model

• One Line Diagram and Bus/Branch Model
• Ohm?s Law
• Losses
• Kirchoff?s Law
• Power Flow Calculations (different model idealizations)
• Reference Bus

Contingency Analysis

• Contingency Model
• Limiting Elements
• Thermal Limits
• Stability Limits
• Contingency Analysis

Sensitivities

• Linear Analysis
• Shift Factors
• Loss Factors

LMP Calculation

• Commercial Network Model
• Locations
• Node, Zone, Hub
• Economic Dispatch Formulation
• Shadow Prices
• Location-based Marginal Price
• LMP Components

Marginal Loss Modeling

Tuesday, August 30

LMP Impacts

• Using Power Transfer Distribution Factors

• Examine and understand extremes in LMP

• Using the PowerWorld Five-Bus Model to visualize LMPs

Market Participant Implications on LMPs

• Buying from the Energy Market

• Selling to the Energy Market

• Commitment Decisions

Course Instructors:

Eugene Litvinov, Director of Business Architecture & Technology, ISO New England

He has more than 30years experience in the field of Power System analysis and control and Information Technology. He has been involved in Electricity Markets related modeling and design research and development since 1996. Mr. Litvinov?s responsibilities in the ISO New England include development of mathematical models for Market clearing and pricing, power system analysis and control, technology, and system architecture. He holds an MS in Electrical Engineering and PhD in Power System Control.

Ronald Coutu, Principal Solutions Architect, Business Architecture & Technology, ISO New England

Ronald Coutu is a Principal Solutions Architect for the Business Architecture and Technology group at ISO New England. He has a degree in Computer Science and over 20 years experience in Power System Operation, Markets and Software Design and Development. He has been involved in Electricity Markets design and development since 1996. Mr. Coutu?s current responsibilities include development of market solutions and design the software to implement those solutions.

Click Here To Download A Complete Conference Brochure
Click Here For A Complete Listing Of Upcoming Conferences