Operational electricity cost reduction using real-time simulators

• Adoption of a structure-preserving model to address the limitations of existing methods. • A innovative method of deliberate disturbance is used to find authorized operating points, often reaching the optimal point. • Integration of a real-time stability index into the operational cost reduction process. • Introduction of a novel approach for prioritizing different disturbances to manage them effectively. Ensuring the safe and cost-effective electricity transmission to consumers, along with the efficient and sustainable operation of power systems, has long been a primary objective for power system managers and operators. However, achieving optimal performance in a modern power system requires timely planning and operational optimal routines to be run within the realm of real-time simulation programs, and sometimes, the divergence becomes a problem with these developed routines. Despite extensive research aimed at advancing these objectives, the growing complexity of networks and their constraints has often led to the oversight of simultaneously considering both technical and economic aspects during operation. In this paper, an innovative real-time framework is introduced to reduce the operational costs of a power system swiftly. This framework addresses various nonlinear constraints, such as transmission losses, generation-consumption balance, power device limitations, and transient stability constraints, across various operational scenarios within a real-time simulator. This novel approach leverages scattered search and intentional contingencies within the network to pinpoint the optimal operating point, taking into account various network dynamics, including Automatic Voltage Regulators (AVR), governors, and tap of the transformers. The proposed method offers a fast and robust approach to identifying the most effective operating conditions for a power system. It incorporates considerations for sudden contingencies and extends capabilities through parallel simulations. It not only facilitates pre-determined preventive actions but also enables the adjustment of control parameters during post-contingency periods, such as fine-tuning of the active and reactive power generation of generators and adjusting the tap settings of transformers within power networks. Since the network simulation can be executed on distributed computers, referred to as ’Global,’ it is possible to achieve global network optimization. This approach allows for the consideration of grid networks, including renewable energy sources with models distributed through PCs. Also, it accounts for the induction motor losses within all factories involved in the global simulation. The results obtained from simulating the proposed method on a commercial real-time simulator demonstrate the superior effectiveness of the proposed framework compared to the existing methodologies, highlighting its potential to enhance the operational efficiency and economic viability of power systems.