SHORT-TERM ECONOMIC ENERGY MANAGEMENT IN A COMPETITIVE UTILITY ENVIRONMENT

In this paper an approach to short-term economic rescheduling is propo sed. The method is based on an iterative combination of alternating co nsideration of technical and economic criteria. Its attractiveness lie s in incorporating both technical and economic goals without the compu tational expense of combining them in a mathematical optimization proc ess. A specific algorithm is proposed which is based on using a locali zed mismatch spreading algorithm. The method is potentially very usefu l for quantifying trade-offs between economics and system security in the newly evolving competitive environment.