This question is based on a two node network. The generator…
This question is based on a two node network. The generator at Node 1 has a marginal cost of $12/MWh and submits a competitive offer to the electricity market. The generator at Node 2 has a marginal cost of $30/MWh. The demand curve is given by P = 150 – (G1+G2), and all demand is located at Node 2. The transmission line connecting Nodes 1 and 2 has a capacity of 60 MW. Both generators have a capacity of 200 MW. 1) Calculate the residual demand at Node 2 2) Calculate the LMP at Node 2. Note: Please write your answers in integers, for example, 2, -3, etc. Write only numbers, and do not write unit in your answer.