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Advanced Computational Methods for Optimizing Constrained Transmission Rights


EMSL Project ID
46892

Abstract

Financial Transmission Rights (FTRs) are a financial insurance tool used by power market participants to minimize congestion and maximize delivery efficiency and profitability. The determination the purchasing of such contracts is an important issue for the United States Department of Energy. Because FTRs are time-critical, the methods used for determining their purchase must be computationally fast. Previous methods have suffered from either slow speed or numerical instabilities. This new method developed at PNNL is fast and has recently been parallelized. This computer time will allow several proof-of-concept computations to be done for IEEE publications and will meet DOE program goals.

Project Details

Start Date
2012-01-17
End Date
2013-02-12
Status
Closed

Team

Principal Investigator

Kurt Glaesemann
Institution
Environmental Molecular Sciences Laboratory