Power Exchange Management for Multi-Area Systems Considering Participation of External Bus Players in Multiple Markets

In recent years, there has been an increasing attention in energy exchange among the various countries or areas. One of the methods for energy exchange, with coordinated by the area operators, is participation of producers and consumers in other area markets directly. In this paper, for multi-area power systems that there is a single market in each area (multiple markets structure), a mechanism for power exchange management is proposed. In the mentioned structure, the participation of external bus players in each market is possible. In the designed mechanism, the power exchange management is done by a proposed central coordinator entity. The coordinator performs the management of power exchange in an iterative decision-making process to maintain system security by using a technical approach. The simulation studies for a triple-market case in the standard three areas system (IEEERTS-96) are presented to validate the effectiveness of the proposed mechanism.