Price-based control for electrical power distribution system

In the coming years, the exploitation of Renewable EnergySources (RES), i.e. wind and solar sources, will increasesignificantly. Comparing to fossil-fuel sources, RES are producedand distributed in a more decentralized fashion andtheir availability mainly depends on the climate and weatherconditions. As a result, the current energy systems are facingnew challenges [2, 4]. For instance, the distributionnetwork system should cope with the effects of RES in orderto maintain the desired voltage levels and prevent thenetwork bottlenecks which can occur as a result of a surplusof RES generation and/or high consumption. Dealingwith these challenges, the price-based (market-based) approachprovides a promising framework in which consumersand producers will be motivated, by means of economic incentives,to transform to controllable (price-elastic) components,which react to price signals to obtain and maintain thedesired behavior of the grid [1, 3]. In this talk, we present aprice-based mechanism for the distribution system in orderto maintain the voltage at each bus within its desired boundsand to deal with (active power) congestion