Modeling of Operating Reserve Demand Curves and System-Level Price Adders in Real-Time Energy-Only Market

Liu, Cong; Guo, Jiachun; Hui, Hailong; Yong, Fu

doi:10.1109/tpwrs.2018.2820502

Cited by 10 publications

(3 citation statements)

References 22 publications

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“…Previous research on ORDCs focused predominantly on operational aspects: Papavasiliou and Smeers (2017) confirmed the positive effect of an ORDC on the profitability of flexible generators, while Xu, Dent, and Wilson (2016); Liu et al (2018); Lavin et al (2020) propose different measures to improve the pricing mechanism. Papavasiliou (2020); Papavasiliou, Smeers, and de Maere d'Aertrycke (2021) further analyze possible challenges for implementing the mechanism in an EU framework.…”

Section: Literature Review and Research Gapmentioning

confidence: 96%

Resource Adequacy through Operating Reserve Demand Curves: Design Options and their Impact on the Market Equilibrium

Thomaßen,

Bruckner

2024

The Energy Journal

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Operating reserve demand curves (ORDCs) have become part of the electricity market design in several power systems. They improve the security of supply through enhanced peak prices that occur already when the system is running low on operating reserves, before an actual shortfall occurs. Previous research, however, suggests that the ORDC's impact on resource adequacy would be thwarted by the merit order effect.Hence, we propose a methodology to model the investment in markets with ORDC, which specifically captures the interaction with renewable deployment. A stylized power system setting is used to determine the market equilibrium at different stages of decarbonization, and compared to a conventional energy-only market. Classical ORDCs consistently increase reliability by attracting additional investments. This effect can be amplified by "shifting" the ORDC, increasing the willingness to pay for balancing reserves. Our results suggest that perfect reliability can be achieved with only moderate cost increases.

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Section: Literature Review and Research Gapmentioning

confidence: 96%

Resource Adequacy through Operating Reserve Demand Curves: Design Options and their Impact on the Market Equilibrium

Thomaßen,

Bruckner

2024

The Energy Journal

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“…The EVs hosting capability is 43.2% higher than uncontrolled charging stations in the 123-node system. The adverse effects of load fluctuations and variable renewable energy generation in a power distribution system are reduced due to the contribution of EVs in auxiliary markets [259][260][261]. A tri-layer multi-agent distributed framework is presented to optimize the charging schedule of EVs based on charging demands in [36].…”

Section: Advantages To Utilitymentioning

confidence: 99%

Impact of Transportation Electrification on the Electricity Grid—A Review

et al. 2022

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Transportation electrification is a pivotal factor in accelerating the transition to sustainable energy. Electric vehicles (EVs) can operate either as loads or distributed power resources in vehicle-to-grid (V2G) or vehicle-to-vehicle (V2V) linkage. This paper reviews the status quo and the implications of transportation electrification in regard to environmental benefits, consumer side impacts, battery technologies, sustainability of batteries, technology trends, utility side impacts, self-driving technologies, and socio-economic benefits. These are crucial subject matters that have not received appropriate research focus in the relevant literature and this review paper aims to explore them. Our findings suggest that transitioning toward cleaner sources of electricity generation should be considered along with transportation electrification. In addition, the lower cost of EV ownership is correlated with higher EV adoption and increased social justice. It is also found that EVs suffer from a higher mile-per-hour charging rate than conventional vehicles, which is an open technological challenge. Literature indicates that electric vehicle penetration will not affect the power grid in short term but charging management is required for higher vehicle penetration in the long-term scenario. The bi-directional power flow in a V2G linkage enhances the efficiency, security, reliability, scalability, and sustainability of the electricity grid. Vehicle-to-Vehicle (V2V) charging/discharging has also been found to be effective to offload the distribution system in presence of high EV loads.

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“…To avoid insufficient FR capacity during the specific period, the ancillary services award is set and encouraged EVs plug‐in grid during the required period. In [15], time‐of‐use electricity price was set for coordinating the charging/discharging period of EVs and reducing the grid congestion during the load peak or valley period. It resulted in a stable and predictable charging/discharging power that alleviated the violent fluctuation of system frequency.…”

Section: Introductionmentioning

confidence: 99%

Hierarchical dispatching method based on Hungarian algorithm for reducing the battery degradation cost of EVs participating in frequency regulation

Zeng

et al. 2020

IET Generation, Transmission & Distribution

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Modeling of Operating Reserve Demand Curves and System-Level Price Adders in Real-Time Energy-Only Market

Cited by 10 publications

References 22 publications

Resource Adequacy through Operating Reserve Demand Curves: Design Options and their Impact on the Market Equilibrium

Resource Adequacy through Operating Reserve Demand Curves: Design Options and their Impact on the Market Equilibrium

Impact of Transportation Electrification on the Electricity Grid—A Review

Hierarchical dispatching method based on Hungarian algorithm for reducing the battery degradation cost of EVs participating in frequency regulation

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