Title: A Hierarchical Approach to Bargaining in Power Pool Management
Authors: Harri Ehtamo, Jukka Ruusunen and Raimo P. Hämäläinen
Status: IEEE Transactions on Automatic Control. Vol 34, No. 6, 1989, pp. 666-669.
Co-operative operation of an electric power pool is considered. A three-level dynamic hierarchical decomposition approach to determine the intrapool power exchanges over time is proposed. The approach results in independent operation of the electric utilities. To guarantee both fair division of the cost savings achieved and feasible intrapool energy exchanges, the utilities are coordinated in the form of electric power prices.