Price-based control for electrical power distribution system

In the coming years, the exploitation of Renewable Energy Sources (RES), i.e. wind and solar sources, will increase significantly. Comparing to fossil-fuel sources, RES are produced and distributed in a more decentralized fashion and their availability mainly depends on the climate and weather conditions. As a result, the current energy systems are facing new challenges [2, 4]. For instance, the distribution network system should cope with the effects of RES in order to maintain the desired voltage levels and prevent the network bottlenecks which can occur as a result of a surplus of RES generation and/or high consumption. Dealing with these challenges, the price-based (market-based) approach provides a promising framework in which consumers and 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 the desired behavior of the grid [1, 3]. In this talk, we present a price-based mechanism for the distribution system in order to maintain the voltage at each bus within its desired bounds and to deal with (active power) congestion