H. Sun, A.P. Sakis Meliopoulos, and S.-J. Deng (USA)
Financial Transmission Right (FTR), Power TransferDistribution Factor, Monte-Carlo Simulation.
The paper presents a market simulation based approach for Financial Transmission Rights (FTRs) calculation and the probabilistic distribution analysis. The paper introduces a multilateral transaction model and a nonconforming electric load model to better reflect market situations. A FTR calculation model based on nodal prices and AC network model is presented. A Monte Carlo Simulation method is adopted to find the probabilistic distribution of FTR. A test system is presented and analyzed using the proposed approach. Quadratic Power Flow (QPF) model, extension of Costate sensitivity method to QPF and an accurate method for Power Transfer Distribution Factor (PTDF) calculation are also presented in Appendix A, B and C respectively.
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