Frequency Control Ancillary Service Market Design: Insights from the Australian National Electricity Market

Long-term Static and Operational Reserves Assessment Considering Operating and Market Agreements Representation to Multi-Area Systems

“…Another major simulation modeling perspective are operational procedures and market rules representation, which may directly affect the system performance. The relationship between electric areas and/or countries requires a set of different rules based on unit commitment, dispatch actions, and interconnection availability [2,3], which may vary from market insights to security criterion over energetic and electric perspectives. For instance, it is possible to find several procedures for cross-border transmission capacity agreements around the world [12], mainly to determine the electric and energetic influence of neighboring areas, cross-border exchange limits, and technical and operational security criteria.…”

“…The hydrothermal optimization problem was always part of the planner's and operator's agenda, where synchronous machine directly connected to the grid are able to offer operational systemic benefits, such as inertial response, which is an essential ancillary service to ensure short-term supply and demand balancing throughout a power system. This service is assured only by synchronous generators, since they are able to provide system inertia throughout different control areas [3].…”

Missing money, missing policy and Resource Adequacy in Australia's National Electricity Market

“…The NEM was unique amongst restructured electricity market designs due to its single, real-time platform comprising a mandatory "gross pool" spot electricity market and eight co-optimised Frequency Control Ancillary Service spot markets, operating across five imperfectly interconnected regions with 5-minute dispatch resolution (MacGill, 2010). A single Independent Market Operator coordinates all regions and all spot markets, and again somewhat uniquely, without any formal day-ahead market 1 or capacity market (Riesz et al 2015). Forward derivative contracts are traded both on-exchange and Over-The-Counter (OTC) and have historically exhibited turnover of 300-400% of physical trade.…”

Quantifying key uncertainties in the costs of nuclear power

“…The majority of new renewable capacity is wind generation and photovoltaics [16]. Integrating large quantities of these technologies will therefore necessitate changes to power system operation and planning [18,19]. Integrating large quantities of these technologies will therefore necessitate changes to power system operation and planning [18,19].…”

“…However, wind and photovoltaics are technically different to conventional power generation technologies, having variable availability, and being non-synchronous [17]. Integrating large quantities of these technologies will therefore necessitate changes to power system operation and planning [18,19]. This has prompted renewed consideration of conventional nuclear generation as an important low emissions technology for expanded deployment [7], even in jurisdictions where wind and photovoltaics are abundantly available, such as South Africa [20] and Australia [21].…”