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A novel concept of the adaptive emergency transmission rates (ATR) is presented. Traditionally used discrete emergency rates developed for a fixed period of time are replaced by a continuous adaptive rate applicable for any interval of time after contingency. ATR permits increasing power transfer in normal states without degradation of system reliability by allowing the maximal safe loading of electrical facility post-contingency corresponding to the transmission loading relief available via real-time dispatch. The approach is applicable mainly to real-time operations and short term planning and allows to not only lowering the cost of the operation, but also increasing the consistency of the economic dispatch in terms of the operator's discretion. Index Terms--Adaptive, emergency rates, operations, power system security.

Ancillary service markets are a very important part of the Standard Market Design and are under development or implementation on a centralized basis in major U.S. electricity markets. This paper presents the market clearing framework for the co-optimized real-time energy-reserve market that has been developed and implemented in the ISO New England (ISO NE). In this co-optimized market clearing model, reserve products are procured on a zonal basis to satisfy the first and the second contingency protection criteria required by the ISO NE's real-time operations for both the entire area and typical import-constrained areas. The proposed zonal reserve model is derived from simulating each contingency event in the predefined reserve zones. Differing from standard industrial practices, the proposed zonal reserve model recognizes reserve deliverability for nested reserve zones and allocates the zonal total transfer capability between energy and reserves in an economic way. Numerical examples for a two-zone system are presented to demonstrate the validity of this modeling technique. Index Terms--Ancillary service market, electricity market, locational marginal pricing, operating reserve, optimization, power systems.

The tight coupling between market and system operations in the restructured environment requires a thorough understanding of the interdependence between the market performance and the way the power systems are operated. In particular, we need to go beyond the qualitative characterization and to quantify the dependence of the market performance on the system security. Such studies are typically not performed ill today's regional transmission organization, or RTO, structures. In this paper, we develop a general approach to quantify the monetary impacts of complying with a specified security criterion when the deployment of appropriate preventive and/or corrective security control actions is fully taken into account. This approach is deployed in the day-ahead electricity markets and is based on the emulation of the way the RTO currently operates the market and the grid, the latter in compliance with the security criterion. The proposed approach has a wide range of applications such as comparative market performance assessments of different security criteria and the cost/ benefit analysis of network improvements to mitigate the market performance impacts of a set of specified contingencies. We illustrate the application of the proposed approach on the large-scale ISO-NE system to quantify the monetary impacts associated with changing from the current security criterion to two other criteria using the actual 2005 day-ahead data--the historical system model and the bids/offers submitted--with the actual market clearing methodology. These studies capture, in a meaningful way, the impacts of the changes with respect to the current security criterion. An important finding of this study is that the economic efficiency of electricity markets need not decrease when the system is operated under a stricter criterion. Index Terms--Corrective and preventive security control actions, electricity market economics, locational marginal price, price-responsive demand, power system security, (n - 1) and (n - 2) security, social welfare maximization.

This paper discusses an alternative to the ex post pricing model currently under development within ISO New England's (ISO NE) ancillary service market. Since ISO NE's real-time ancillary service market co-optimizes both energy and reserve products, ex post pricing is needed for both energy and reserve. A co-optimization approach for ex post pricing requires defining complex pricing rules and implementing heuristics to ensure consistent binding constraints with the ex ante dispatch. In order to avoid complexity and uncertainty of required heuristics, a new ex post pricing schema is proposed to calculate the ex post energy and reserve prices in a decoupled way while recognizing the coupling effect of energy and reserve. In the proposed approach, ex post energy prices are first computed by incorporating the ex ante marginal opportunity cost of reserve in the energy offer; the ex post reserve prices are then calculated by considering the ex post marginal opportunity cost of energy. This approach simplifies the implementation of ex post pricing rules in the ISO NE market. Numerical examples are presented to further demonstrate the validity of this approach. Index Terms--Electricity market, ex ante pricing, ex post pricing, locational marginal pricing, opportunity cost, optimization, power systems.

This paper discusses the pricing of marginal transmission network losses in the locational marginal pricing approach recently deployed in the ISO New England (ISO-NE) standard market design (SMD) project implemented by ALSTOM's T&D Energy Automation and Information (EAI) Business. The traditional loss model is studied and a new model is proposed. The new model achieves more defendable and predictable market-clearing results by introducing loss distribution factors to explicitly balance the consumed losses in the lossless dc power system model. The distributed market slack reference is also introduced and discussed. The LMP components produced by the two models are studied and compared under changes in slack reference. Numerical examples are presented to further compare the two models. Index Terms--Electricity market, marginal pricing, network losses, optimization, power systems.

The primary goal of this work is to investigate the basic energy and reserve dispatch optimization (cooptimization) in the setting of a pool-based market. Of particular interest is the modeling of lost opportunity cost introduced by reserve allocation. We derive the marginal costs of energy and reserves under a variety of market designs. We also analyze existence, algorithm, and multiplicity of optimal solutions. The results of this study are used to support the reserve market design and implementation in ISO New England control area. Index Terms--Electricity market, marginal pricing, optimization, power systems, spinning reserve.

The increased penetration of renewable resources and retirement of traditional generation units are posing new challenges to power system operations and planning to meet the ever-growing demand for more computing resources to run large-scale, computationally intensive simulations. As the traditional on-premises infrastructure loses pace to the constantly increasing computing needs, cloud computing has become an attractive addition for increasing average computing capacity, and alternative for meeting peak demands. ISO New England (ISO-NE) pioneered the use of cloud computing technology for large-scale power system simulations, believing it to be the only viable solution that is capable of keeping pace with the growing challenge in the foreseeable future. This paper shares the practical design and implementation of an elastic, on-demand, application-independent cloud platform that ISO-NE deployed in production at the end of 2017. As a secure, cost-effective and scalable platform for addressing the intensive computing demand in planning studies, this platform made using Amazon Web service as easy as using on-premises computers by completely automating the access to cloud based resources. This frees ISO engineers to focus on power system analysis, and thus significantly increased their productivity. To accommodate simulation jobs with varying urgency requirements, this platform allows the users to make the tradeoff between cost and completion time. The platform also further strengthened its support for cyber security and data privacy. [ABSTRACT FROM AUTHOR]