No. On Jan 13, 2014, at 10:41 AM, Carlos Gonzalez Almeida <[email protected]> wrote:
> 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 >>> > >>> >>> >> >> > >
