A method for reserve clearing in disaggregated model considering lost opportunity cost

Afshar, K.; Ehsan, Mehdi; Fotuhi-Firuzabad, M.; Amjady, Nima

doi:10.1016/j.epsr.2007.04.007

Cited by 26 publications

(13 citation statements)

References 23 publications

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“…Thus, the energy-only dispatch should be solved prior to the optimization problem. In this case, LOC of a generator, which is forced to produce reserves, can be defined as follows ( [6,10]): …”

Section: Augmented Offer Cost Minimizationmentioning

confidence: 99%

“…The second reserve procurement method, however simultaneously schedules the various services (different types of reserves) according to their requirements, but is still separate from the energy market, which is wellknown as disaggregated simultaneous market [5]. In the third way, generally associated with the U.S. East Coast ISOs (PJM, New England, and New York), the system operator schedules reserve services through the aggregated simultaneous scheduling of the energy and reserves [6].…”

Section: Introductionmentioning

confidence: 99%

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Incorporating power system security into market‐clearing of day‐ahead joint energy and reserves auctions

Aghaei¹,

Shayanfar²,

Amjady³

2008

Int Trans Elec Energy Syst

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SUMMARYThis paper is intended to introduce a technique for incorporating system security into the clearing of day-ahead joint electricity markets, with particular emphasis on the voltage stability. A Multiobjective Mathematical Programming (MMP) formulation is implemented for provision of ancillary services (Automatic Generation Control or AGC, spinning, non-spinning, and operating reserves) as well as energy in simultaneous auctions by pool-based aggregated market scheme. In the proposed market-clearing structure, the security problem, as an important responsibility of ISO, is addressed and a nonlinear model is formulated and used as the extra objective functions of the optimization problem. Thus, in the MMP formulation of the market-clearing process, the objective functions (including augmented generation offer cost, overload index, voltage drop index, and loading margin) are optimized while meeting AC power flow constraints, system reserve requirements, and lost opportunity cost (LOC) considerations. The IEEE 24-bus Reliability Test System (RTS 24-bus) is used to demonstrate the performance of the proposed method.

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Section: Augmented Offer Cost Minimizationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Incorporating power system security into market‐clearing of day‐ahead joint energy and reserves auctions

Aghaei¹,

Shayanfar²,

Amjady³

2008

Int Trans Elec Energy Syst

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“…In an aggregated framework, such as NYISO, PJM, ISO-NE, and new California market, the energy and ancillary service markets are cleared simultaneously. In a disaggregated framework, on the other hand, energy and ancillary service markets are cleared sequentially [6]. In the latter case, energy market clearing does not incorporate any security considerations.…”

Section: Introductionmentioning

confidence: 99%

Demand-side reserve in stochastic market clearing of joint energy/reserve auctions

Aghaei

Amjady

Shayanfar

2010

Euro. Trans. Electr. Power

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SUMMARYThis paper proposes a stochastic model for security-constrained market clearing that includes supply-side and demand-side reserve offers where energy and reserve are jointly dispatched. In this model, the solution methodology consists of two stages. In the first stage, random disturbances, such as outages of generation units and transmission lines, are modeled as different scenarios using the Lattice Monte Carlo Simulation (LMCS) method. Then, the stochastic market clearing procedure is decomposed into deterministic optimization sub-problems (scenarios) including non-contingent scenario and different post-contingency states. For each deterministic scenario, the resources are scheduled and dispatched in a joint auction through a mixed-integer linear optimization program in which the objective is to maximize the weighted-average social welfare of all market participants. The model is applied to the IEEE 24-bus Reliability Test System (IEEE 24-bus RTS) and simulation studies are carried out to examine the effectiveness of the proposed method.

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“…By this method, the reserve market, which is thus attributed with the character of substitute goods, is known as a disaggregated parallel market (Afshar et al, 2008).…”

Section: The Role Of Reserves In Providing Power System Securitymentioning

confidence: 99%

“…While Ma et al (1999) proposed a zone-based reserve model, Gan and Litvinov (2003) and Wu et al (2004) analyzed the requirements for maintaining reserves throughout the system as a whole. Authors such as Afshar et al (2008) presented the process of determining the level of energy reserves and described the methods of arriving at their optimum values, based on delivery costs and benefits that accrue from their availability.…”

Section: The Role Of the Auction Market In Providing Security And Ecomentioning

confidence: 99%

Security assessment and optimization of energy supply (neural networks approach)

Jasiński

Ścianowska

2015

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The question of energy supply continuity is essential from the perspective of the functioning of society and the economy today. The study describes modern methods of forecasting emergency situations using Artificial Intelligence (AI) tools, especially neural networks. It examines the structure of a properly functioning model in the areas of input data selection, network topology and learning algorithms, analyzes the functioning of an energy market built on the basis of a reserve market, and discusses the possibilities of economic optimization of such a model, including the question of safety.

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A method for reserve clearing in disaggregated model considering lost opportunity cost

Cited by 26 publications

References 23 publications

Incorporating power system security into market‐clearing of day‐ahead joint energy and reserves auctions

Incorporating power system security into market‐clearing of day‐ahead joint energy and reserves auctions

Demand-side reserve in stochastic market clearing of joint energy/reserve auctions

Security assessment and optimization of energy supply (neural networks approach)

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