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Demand Response (DR) is an important tool for Independent System Operators (ISO) for reliable operation of electricity markets, and there has been considerable interest from load-side market participants to offer their services for DR provisions. In this environment, the ISO needs to develop effective mathematical models for procurement of DR so as to maximize its benefits, such as reducing the peak demand, regulating electricity price shocks, and mitigating market power. In this paper, a new mathematical model for a Locational Marginal Price based, loss included, day-ahead, cooptimized, energy and spinning reserve market including DR provisions, is proposed. The proposed model includes a new proposition for load-side participants to submit price responsive demand (PRD) and load curtailment based DR bids simultaneously, in a unified market framework. Case studies considering DR providers participating in energy market only, in both energy and spinning reserve markets, and in spinning reserve market only, are presented, which examine the impact on system operation, market prices, and DR provider's benefits. The proposed model is tested on the IEEE Reliability Test System to demonstrate its functionalities and the results clearly justify the merits of simultaneous consideration of PRD bids and load curtailment based DR offers in a cooptimized energy and spinning reserve market. [ABSTRACT FROM AUTHOR]

This paper presents a novel method based on affine arithmetic (AA) for voltage stability assessment of power systems considering uncertainties associated with operating conditions, which may be attributed to intermittent generation sources, such as wind and solar. The proposed AA-based method reduces the computational burden as compared to Monte Carlo (MC) simulations, and also improves the accuracy as compared to some analytical approaches. The proposed method is tested using two study cases: first, a 5-bus test system is used to illustrate the proposed technique in detail, and thereafter a 2383-bus test system to demonstrate its practical application. The results are compared with those obtained using MC simulations to verify the accuracy and computational burden of the proposed AA-based method, and also with respect to a previously proposed technique to estimate parameter sensitivities in voltage stability assessment. [ABSTRACT FROM PUBLISHER]

This article presents a new algorithm for analyzing the effects of wind generation uncertainties on short-term power system operation. Monte Carlo simulation is used to obtain a set of wind generation scenarios, and then the scenario reduction algorithm is applied to obtain a reduced set of scenarios. These reduced scenarios are then incorporated into the unit-commitment problem formulation with a locational marginal price based electricity market settlement and a dispatch model to examine the effects of wind generation on electricity market prices, load cleared, social welfare, and system capacity. [ABSTRACT FROM AUTHOR]

This paper presents a new approach to security coordinated maintenance scheduling in deregulation wherein the independent system operator (ISO) does not generate a maintenance schedule by itself, but calls for maintenance scheduling plans from individual gencos. The maintenance scheduling plans, when incorporated in a medium-term security constrained production scheduling program, can result in unserved energy at one or more buses. Based on the information on bus-wise unserved energy, the ISO generates corrective signals for the genco(s), and directs them to alter their maintenance plans in specific periods and resubmit. The proposed scheme exploits the concept of commons and domains to derive a novel factor to allocate the unserved energy at a bus to a set of generators responsible. Iterations between the gencos and ISO continue until the coordination program has converged, and there is no unserved energy at any period in the system. A case-study for a large-scale power system, which is a representative reduction of the Ontario power system, is presented in the paper with insight on the coordination process. The proposed scheme is computationally simple, efficient, and can be applied to real-sized power systems. [ABSTRACT FROM AUTHOR]

This paper evaluates the usefulness of publicly available electricity market information in forecasting the hourly Ontario energy price (HOEP). In order to do so, relevant data from Ontario and its neighboring electricity markets, namely, New York, New England, and PJM electricity markets, are investigated, and a final set of explanatory variable candidates that are available before real-time are selected. Multivariate transfer function and dynamic regression models are employed to relate HOEP behavior to the selected explanatory variable candidates. Univariate ARIMA models are also developed for the HOEP. The HOEP models are developed on the basis of two forecasting horizons, i.e., 3 h and 24 h, and forecasting performance of the multivariate models is compared with that of the univariate models. The outcomes show that the market information publicly available before real-time can be used to improve HOEP forecast accuracy to some extent; however, unusually high or low prices remain unpredictable, and hence, the available data cannot lead to significantly more accurate forecasts. Nevertheless, the generated forecasts in this paper are significantly more accurate than currently available HOEP forecasts. To analyze the relatively low accuracy of the HOEP forecasts, comparisons are made with respect to ARIMA models developed for locational marginal prices (LMPs) of Ontario's three neighboring markets, and price volatility analyses are presented. [ABSTRACT FROM AUTHOR]

This paper proposes a new heuristic approach for distributed generation (DC) capacity investment planning from the perspective of a distribution company (disco). Optimal sizing and sitting decisions for DC capacity is obtained through a cost-benefit analysis approach based on a new optimization model. The model aims to minimize the disco's investment and operating costs as well as payment toward loss compensation. Bus-wise cost-benefit analysis is carried out on an hourly basis for different forecasted peak demand and market price scenarios. This approach arrives at the optimal feasible DC capacity investment plan under competitive electricity market auction as well as fixed bilateral contract scenarios. The proposed heuristic method helps alleviate the use of binary variables in the optimization model thus easing the computational burden substantially. [ABSTRACT FROM AUTHOR]

Deals with optimal procurement of interruptible load services within secondary reserve ancillary service markets in deregulated electric power systems. Interruptible load management practices adopted by various independents service operators (ISO) Issues that must be addressed in procurement of interruptible load services; Investigation of the relationship between actual and reserve interruption invoked by ISO.