Impact of Data Quality on Real-Time Locational Marginal Price

TitleImpact of Data Quality on Real-Time Locational Marginal Price
Publication TypeJournal Article
Year of Publication2014
AuthorsLiyan Jia, Jinsub Kim, Robert J Thomas, Lang Tong
JournalIEEE Transactions on Power Systems
Pagination627 - 636
Date Published03/2014
Keywordselectricity markets, locational marginal pricing, reliability and markets, RM11-003

The problem of characterizing impacts of data quality on real-time locational marginal price (LMP) is considered. Because the real-time LMP is computed from the estimated network topology and system state, bad data that cause errors in topology processing and state estimation affect real-time LMP. It is shown that the power system state space is partitioned into price regions of convex polytopes. Under different bad data models, the worst case impacts of bad data on real-time LMP are analyzed. Numerical simulations are used to illustrate worst case performance for IEEE-14 and IEEE-118 networks.

Short TitleIEEE Trans. Power Syst.