Fd. Galiana et M. Ilic, MATHEMATICAL FRAMEWORK FOR THE ANALYSIS AND MANAGEMENT OF POWER TRANSACTIONS UNDER OPEN ACCESS, IEEE transactions on power systems, 13(2), 1998, pp. 681-687
Several models are being considered by the power industry for competit
ion under open access transmission Each alternative offers a radically
different solution which must be evaluated, not only in terms of econ
omic benefits, but also in terms of impact on power system security. T
his paper therefore presents a general mathematical framework for the
analysis and management of power transactions under open access subjec
t to system security constraints. The framework introduces the notions
of a virtual network of transactions and the transactions matrix, bot
h describing virtual power flows among financial entities. Finally, th
is paper shows how the transactions selected by the market forces are
influenced by the security requirements of the physical network.