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Below is a basic economic dispatch problem and its dual. This basic economic dispatch problem is a special case that does not consider transmission constraints.

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Below is a basic economic dispatch problem and its dual. This basic economic dispatch problem is a special case that does not consider transmission constraints. The minimum outputs of the units are assumed to be OMW. Primal: Dual: Min: 29.65 11331:];il Max D1 29.55 Pmmrr 211) What does 295.; lzbm'xcr'g represent? Give an economic interpretation regarding this term and explain. Here are some hints: generation cost; generation revenue; generation prot; load payment; congestion cost; congestion revenue; capacity revenue; capacity rent. Additional hint: you may or may not need to examine properties regarding complementary slackness. 2b) Explain the strong duality relationship of this primal dual pair (what does it economically tell us). 2c) Prove or Disprove: It is possibiefor the opmai' solution Io be such that: for some 3, A. i CE and pg :> 0. This states that there is a generator that is producing while the market clearing price is below its marginal cost. Refer only to the structure of the economic dispatch formulation above. [11' 2d) Prove or Disprove: It is possibiefor 2L :3 cg only i f pg 2 Pg\

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