Reserve markets for power systems reliability

Allen, Eric; Ilić, Marija

doi:10.1109/59.852126

Cited by 118 publications

(65 citation statements)

References 3 publications

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“…The spinning reserve is one of the most important ancillary services that must have full attention paid to it in a markets management and operation. Thus, establishing an efficient market structure for spinning reserve services has become crucial (Allen & Ilic 2000;Bautista et al, 2006;Wong & Fuller, 2007). In addition, spinning reserve can be used to manage system contingencies (Jie et al, 2003).…”

Section: Co-optimization Of Energy and Spinning Reservementioning

confidence: 99%

“…On the other hand, transmission congestion can permit certain units to escalate market prices by offering expensive units. The impact of transmission congestion on market power can be explored with long term dynamic simulation (Allen & Ilic, 2000). The research should be focused on the effect of transmission congestion on a generator's settlement prices, incomes and benefits.…”

Section: The Effect Of Transmission Congestion On Market Powermentioning

confidence: 99%

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An Advanced Method of Congestion Management for Optimal Energy Pricing

Nappu¹,

Saha²

2010

Paths to Sustainable Energy

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Section: Co-optimization Of Energy and Spinning Reservementioning

confidence: 99%

Section: The Effect Of Transmission Congestion On Market Powermentioning

confidence: 99%

An Advanced Method of Congestion Management for Optimal Energy Pricing

Nappu¹,

Saha²

2010

Paths to Sustainable Energy

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“…More specifically, there are markets in which the reserve power is paid at reserve price, only when reserve is actually used. In others, the reserve power is paid, at reserve price, when reserve is allocated but not used, and, at energy price, when the reserve is used [13,14,15].…”

Section: The Bidding Strategy and Literature Reviewmentioning

confidence: 99%

Bidding strategy of a micro grid for the day-ahead energy and spinning reserve markets: the problem formulation

Ferruzzi¹,

Rossi²,

Bracale³

2017

IJHT

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The paper is addressed to the construction of an optimally bidding for a Micro Grid (MG) that takes part to both day-ahead energy and spinning reserve markets. The work shows that the decision about the amount of power to offer, related to the expected prices and different risk tolerances, must be taken contextually through a joint approach. For that purpose, an optimization problem is formulated. In order to help the decision maker to understand the potential impact of different sub-optimal choices, the model evaluates also the risk associated with the uncertainty of variable power to offer in the both markets. The risk associated is evaluated by the expected utility theory that takes into account the attitude of individuals with regard to risk (adversion, neutrality or propensity) to make decision that minimize negative returns. The effectiveness of the proposed model is assessed through the analysis of a MG composed by traditional power plants, combined heat and power (CHP) plants, and heat production plants (boilers). The presence of storages systems is also accounted for. Moreover, it is considered that both generators and loads can take part in the reserve market and the demand participation happens through both shiftable and curtailable loads.

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“…Madrigal and Quintana (2000) presented a model and solution approach to a daily energy and spinning-reserve electricity market clearing system. Allen and Ilic (2000) defined a price-based decision-making process for participating in a reserve market for power systems reliability. Gan and Litvinov (2002) have investigated the basic energy and reserve dispatch optimization (co-optimization) in the setting of a pool-based market.…”

Section: Introductionmentioning

confidence: 99%

Energy market and reserve market modeling in simultaneous and serial implementation methods with the aim of reducing electricity costs

Ghoraba¹,

Ameli²

2012

IJIEC

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In competitive electricity markets, power needed for the network's reserve is purchased from the ancillary service market. In this market, producing units and buyers alike announce their offers. As will be seen, energy market and reserve market implementation is possible with simultaneous method and serial method by choosing each of the methods based on the type of market and other conditions. In this paper, the energy market and the active power reserve market are simulated in two formations as serial and simultaneous for a uniform pricing system. In each method, limitations of transferring power over the lines, based on available transfer capacity (ATC), is considered alongside the other constraints in the energy market and the active power reserve market. Then, during network overload, economic dispatch is accomplished between winner units in the reserve market by using a linear optimization problem, and needed power is provided from these units at a minimal cost. Finally, our proposed methods are implemented on an IEEE 39-bus test system and results are analyzed.

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Reserve markets for power systems reliability

Cited by 118 publications

References 3 publications

An Advanced Method of Congestion Management for Optimal Energy Pricing

An Advanced Method of Congestion Management for Optimal Energy Pricing

Bidding strategy of a micro grid for the day-ahead energy and spinning reserve markets: the problem formulation

Energy market and reserve market modeling in simultaneous and serial implementation methods with the aim of reducing electricity costs

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