Assessment and analysis of local marginal prices as an effect of electric transmission constraints in the Colombian power market

This paper gives the results of research assessing and analysing local marginal prices in the national transmission grid as an alternative for analysing the effect of electric transmission constraints in the Colombian power market. This study compares the current one-bus model where a spot price is determined without considering transmission network constraints. It describes the modelling of the national transmission grid, power system operation and economic dispatch and a methodology for approaching the system’s electrical constraints and operational constraints. An analysis of local marginal prices for each operational zone in the Colombian power system is presented as a result of this modelling, as well as statistical modelling of congestion incom