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

Abstract

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.

Enhanced Lagrange relaxation for the optimal unit commitment of identical generating units

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Multi‐objective, multi‐year dynamic generation and transmission expansion planning‐ renewable energy sources integration for Iran's National Power Grid

“…Thus, this paper employs the augmented epsilon‐constraint and lexicographic optimization technique to solve the proposed multi‐objective optimization problem with conflicting objective functions. The procedure of the epsilon‐constraint method is described in the following, while Aghaei et al, Amjady et al, and Ahmadi et al include the detailed descriptions. The fundamental of this method is based on assigning one of the objective functions as the main one and all others as constraints to the problem as follows: …”

Co‐optimization of active power curtailment, load shedding and spinning reserve deficits through hybrid approach: Comparison of electrochemical storage technologies

“…Moreover, we compare different technologies according to their performance characteristics, utilizing actual data of generation and demand and relying on robust unit commitment formulations. Our comparisons account for: (1) The most recent technological variations in development status and cost metrics in research and (2) distinguished metrics for the power-related and energy-related costs.…”

“…Besides achieving minimum total production cost, the today's generation schedule must satisfy a larger set of different complex constraints. These include generation constraints in the presence of renewable generation, network constraints affected by the distributed energy resources, bilateral contracts enclosing independent electricity provision, corrective security actions in sudden load variation or outage circumstances, and so on [1].…”