Different models for LMP calculation in wholesale power markets considering active power reserves: A comparison
Different models for LMP calculation in wholesale power markets considering active power reserves: A comparison
This paper compares the DC optimal power flow (DCOPF) model and AC optimal power flow (ACOPF) that are used to calculate LMP in the wholesale electricity market. The study takes into account the price-sensitive loads and active power reserves. DCOPF model has 2 forms: DCOPF without losses and iterative DCOPF with losses.