1. Co-optimization of Energy and Reserve with Incentives to Wind Generation: Case Study
- Author
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Smeers, Yves, Martin, Sebastian, and Aguado, Jose A.
- Subjects
Quantitative Finance - General Finance ,Electrical Engineering and Systems Science - Systems and Control ,Mathematics - Optimization and Control - Abstract
This case study presents an analysis and quantification of the impact of the lack of co-optimization of energy and reserve in the presence of high penetration of wind energy. The methodology is developed in a companion paper, Part I. Two models, with and without co-optimization are confronted. The modeling of reserve and the incentive to renewable as well as the calibration of the model are inspired by the Spanish market. A sensitivity analysis is performed on configurations that differ by generation capacity, ramping capability, and market parameters (available wind, Feed in Premium to wind, generators risk aversion, and reserve requirement). The models and the case study are purely illustrative but the methodology is general., Comment: 8 pages, 4 tables, 5 figures. Supplementary material for article entitled: Co-optimization of Energy and Reserve with Incentives to Wind Generation
- Published
- 2021