Security assessment and enhancement in real-time operations of ERCOT nodal electricity market

Abstract

Ensuring system reliability and security while operating electricity markets is the primary responsibility of independent system operators. Maintaining system security in real-time is a significant challenge due to limited time frame permitted for analyzing and responding to security issues. This paper focuses on the applications designed to address static security in the real-time operations of ERCOT nodal electricity market. It first gives the theoretical fundamentals of the definition of power system static security, security assessment based on contingency analysis and security enhancement based on security constrained optimal power flow method. Following the theoretical background discussion, applications for static security assessment and enhancement are introduced. The business process to handle security violations of transmission constraints using those applications is further explained.

Risk-based security-constrained optimal power flow: Mathematical fundamentals, computational strategies, validation, and use within electricity markets

“…Otherwise, the MCE will find the optimal result thus the market clearing results could be obtained. [53]. The system and the market are two interconnected components in the operation of ISOs.…”