Back to Search
Start Over
Modeling of Operating Reserve Demand Curves and System-Level Price Adders in Real-Time Energy-Only Market.
- Source :
-
IEEE Transactions on Power Systems . Sep2018, Vol. 33 Issue 5, p4797-4808. 12p. - Publication Year :
- 2018
-
Abstract
- In order to support an appropriate level of resource adequacy in the long term and also to achieve a reliable operation in the short term, a new pricing design and mechanism is needed as a key success factor of real-time energy-only market. This paper proposes optimization-based mathematical models to explore operating reserve demand curves (ORDCs) and two price adders in real-time energy-only market, including dispatch correction and extended security-constrained economic dispatch. The Lagrangian multipliers of the dispatch correction problem are used to construct the ORDCs. Then, the derivative of the ORDCs’ social welfare is formulated as real-time online reserve price adders such as the scarcity adder and the price-lift adder. In case studies, we justify the effectiveness of the proposed ORDCs and two price adders by a simple example with two aggregated units and the Electric Reliability Council of Texas data. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08858950
- Volume :
- 33
- Issue :
- 5
- Database :
- Academic Search Index
- Journal :
- IEEE Transactions on Power Systems
- Publication Type :
- Academic Journal
- Accession number :
- 131487805
- Full Text :
- https://doi.org/10.1109/TPWRS.2018.2820502