Security Coordinated Economic Dispatch for Joint Energy and Reserve Markets

Xin, Jinghao; Bompard, Ettore; Napoli, Roberto

doi:10.1109/icpst.2006.321848

Cited by 5 publications

(3 citation statements)

References 6 publications

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“…In the next three steps spot and various balancing market commodities are cleared simultaneously. In [9], spot and balancing market are modeled as bi-level optimization problem. Upper level does the spot market dispatch and scheduling of reserve capacity while in lower level formulates the balancing market dispatch.…”

Section: Introductionmentioning

confidence: 99%

The diversification benefit of additional transmission capacity

Sarfati

Hesamzadeh

2013

2013 IEEE Grenoble Conference

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Transmission investment yields two major benefits: (a) it allows cheaper remote generation to substitute for more expensive local generation, (the 'efficiency (transportation) benefit') and (b) by increasing the diversification of uncorrelated generation sources, allows a reduction in the volume of balancing services required (the 'diversification benefit'). Conventional transmission planning processes tend to focus exclusively on the efficiency benefit. It is well known that increasing wind penetration increases the need for balancing services. The purpose of this study is to develop a mathematical model for quantifying the diversification benefit for transmission investment. To do this the day-ahead spot market and real-time balancing market are mathematically formulated as two-step economic dispatch. This two-step economic dispatch is formulated as one-shot optimization problem. The new optimization problem calculates the results of the day-ahead spot market dispatch and real-time balancing market dispatch in one optimization problem. The new formulation is a linear programming problem which calculates the dispatch cost and the economic deviation from the dispatch cost. This two-step economic dispatch is used for quantifying the diversification benefit of the additional transmission capacity. A decomposition approach is proposed to decompose the total benefit of additional transmission capacity into the efficiency benefit and the diversification benefit. To explain the diversification benefit and its developed two-step economic dispatch, the thirtynode example system is studied. The numerical results show that the proposed methodology in the paper can model and quantify the diversification benefit of additional transmission capacity.

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Section: Introductionmentioning

confidence: 99%

The diversification benefit of additional transmission capacity

Sarfati

Hesamzadeh

2013

2013 IEEE Grenoble Conference

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“…Investment decisions involving future source mixes including renewables [14], and long-term infrastructure placement [15] are typically carried out several months or years ahead. On a daily basis, a dispatch procedure is settled based on a load forecast using a SCED or OPF algorithm [16]- [18]. These procedures may be repeated on an hourly basis, based on expected hourly deviations from day-ahead predictions.…”

Section: Introductionmentioning

confidence: 99%

Decentralized Real-Time Pricing to Achieve Integrated Transactive and Physical Grids

Jinsiwale

Divan

2019

IEEE Access

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With exponentially decreasing prices of PV the adoption of volatile and non-dispatchable sources into the grid has increased. Reliance on high speed communication and complex computations to handle these fast phenomena introduces points of failure and dramatically decreases the controllability and resiliency of the system. Real-time pricing mechanisms ensure that demand and source flexibility can be leveraged to hedge this volatility by balancing demand with available generation. Most pricing mechanisms are quasi real-time and rely on knowledge of system topology, feeder configuration and power flow patterns. This paper proposes a decentralized real-time pricing scheme that is dependent on system frequency. The global visibility of frequency as a pricing signal ensures that the dynamic price can be seen at every agent in the system. This gives every connected agent the ability to balance local needs while stabilizing the global system. By integrating the transactive and physical aspects of the grid, the system can be operated in a more optimal fashion. The approach demonstrates the ability to scale to islanded microgrids as well as larger market structures. By eliminating the need for low-latency communications and detailed network models, the system is also seen to be more resilient and flexible. The proposed approach shows the ability to dynamically balance generation and loads in real-time, while also achieving required market functions showing a truly integrated transactive and physical grid.INDEX TERMS Decentralized dispatch, fractal grids, PV penetration, real-time pricing, transactive energy.

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“…In [11] a day-ahead market associated with joint dispatch is used as a benchmark for contingency reserve pricing. A two-level model is presented in [12] for security coordinated economic dispatch. A dispatch model is presented in [13] taking into account a very detailed representation of the AGC regulating characteristic curve of each thermal unit.…”

Section: Introductionmentioning

confidence: 99%