This paper scrutinizes the compatibility of voltage stability criteria with price-based demand response management (DRM) for a large-scale isolated microgrid considering severe dependency of constant-impedance loads (CILs) on nodal voltage magnitude. Meanwhile, a hybrid nodal pricing (HNP) scheme is developed to determine clearing prices for resources and time-of-use (TOU) tariffs for price-responsive loads. The proposed framework is composed of three ingredients including two optimization molds with the objective of actual net proft and recast operation expense sequentially solved in an iterative process together with one pay-off module. The energy schedules, unbalanced voltages and nodal prices are determined considering intermittency of renewable resources, unbalances, circuit limitations, and reactive power requirements. Two bus and line voltage stability indices as well as voltage profle management criterion are used to prevent voltage instability. Thus, load profle is corrected such that voltage stability can be upheld as well. The proposed method is implemented via a modifed CIGRE benchmark. The simulation results demonstrate that load factor improves at least 4.30% under desirable stability margins. Moreover, total energy loss and line voltage unbalance rate (LVUR) decrease at least 1.02% and 10.03% respectively.
