Thanks alot. If I do runmarket with offers of generators and bids of dispatchable loads, therefore, I will have cost minimization that is equal to social welfare maximization.
Is the social welfare maximization is equal to loss minimization? Best regards On Mon, Jan 13, 2014 at 3:21 PM, Ray Zimmerman <[email protected]> wrote: > Generation = load + losses > > Load is constant. > > Therefore the only way to minimize losses is to minimize total generation. > > If you give all generation an equal cost, then minimizing total cost is > the same as minimizing generation, which minimizes losses. > > -- > Ray Zimmerman > Senior Research Associate > B30 Warren Hall, Cornell University, Ithaca, NY 14853 > phone: (607) 255-9645 > > > > On Jan 13, 2014, at 10:09 AM, Carlos Gonzalez Almeida < > [email protected]> wrote: > > Yes. But I do not understand why? I do not understand conceptually. > > Thanks > > Best Wishes > > > > > On Mon, Jan 13, 2014 at 3:03 PM, Ray Zimmerman <[email protected]> wrote: > >> Really? >> >> http://www.mail-archive.com/[email protected]/msg01261.html >> >> (note the name of the person asking the question) >> >> What’s up with that? >> >> -- >> Ray Zimmerman >> Senior Research Associate >> B30 Warren Hall, Cornell University, Ithaca, NY 14853 >> phone: (607) 255-9645 >> >> >> >> On Jan 13, 2014, at 5:23 AM, Carlos Gonzalez Almeida < >> [email protected]> wrote: >> >> Dear Dr. Zimmerman, >> >> Could please let know according to the below post how " cost >> minimization is equivalent to loss minimization"? Could you please >> explain? >> >> >> Best Wishes >> >> >> >> >> ---------- Forwarded message ---------- >> From: Ray Zimmerman <[email protected]> >> Date: Wed, May 4, 2011 at 3:17 PM >> Subject: Re: Question about objective function >> To: Dailan Xu <[email protected]> >> >> >> The purpose of runmarket is to implement a standard auction market such >> as those used by the typical ISO. The objective of minimization of cost or >> maximization of social welfare is consistent with such markets. >> >> Now, if you want to minimize losses using runmarket, simply put in equal >> offer prices for all generators. Then cost minimization is equivalent to >> loss minimization. >> >> -- >> Ray Zimmerman >> Senior Research Associate >> 211 Warren Hall, Cornell University, Ithaca, NY 14853 >> phone: (607) 255-9645 >> >> >> >> On May 4, 2011, at 8:15 AM, Dailan Xu wrote: >> >> > Dear Prof. Zimmerman >> > >> > Could you please let me know why in the runmarket you have chosen the >> objective function as minimization of cost or maximization social welfare? >> what is the reason? >> > >> > For example, why you haven't chosen loss or other objectives? >> > >> > Best Regards >> > >> > D. Xu >> > >> >> >> >> > >
