Extracting Novel Relations Between Economic and Electrical Variables in DC Electric Power Systems

DC electric power systems, including HVDC, HVDC light, dc distribution systems, and dc microgrids, have a significant position in present and, especially, future electric power systems, namely, smart grids. One of the most significant issues of electric power systems, including dc electric power systems, is the calculation of accurate and fair energy costs of the consumers. In this paper, novel, simple, practical, and precise relations between economic and electrical variables in dc electric power systems are extracted. The novel relations prove that there are interesting relations between voltages of nodes, as electrical variables, and prices of nodes, as economic variables, in dc electric power systems. Applying the extracted novel relations in this paper, a new, fair, precise, practical nodal price, i.e., the fair nodal price, is determined to calculate the energy costs of consumers in dc electric power systems, including dc distribution systems and microgrids. Moreover, as an application of the extracted novel relations, a practical method to determine the fair nodal prices of all nodes and, as a result, the real energy cost of each consumer at each node of dc electric power systems is presented. The analyses results demonstrate the mentioned significant characteristics.