Decomposition of nodal price for electric power system

Description

This paper presents a method to provide a detailed description of each nodal price, by breaking down each nodal price into a variety of parts corresponding to the concerned factors, such as generations, transmission congestion, voltage limitations, etc. This detailed information for nodal prices can be used not only to improve the efficient usage of the power grid and congestion management, but also to provide economic signals for generation or transmission investment.

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