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Development of Performance-Based Two-Part Regulating Reserve Compensation on MISO Energy and Ancillary Service Market.
- Source :
- IEEE Transactions on Power Systems; Jan2015, Vol. 30 Issue 1, p142-155, 14p
- Publication Year :
- 2015
-
Abstract
- FERC Order 755 requires each RTO/ISO to use market-based mechanisms to select and compensate frequency regulation resources based on a two-part payment methodology, i.e., a capacity payment to keep the capacity in reserve and a performance payment to reflect the amount of work each resource performs in real-time in response to the system operator's dispatch signal. This paper discusses how MISO enhanced its market rules to implement a market-based regulation performance payment. The market enhancement includes four key areas: quantifying the movement of regulation, modifications to the market clearing processes, performance accuracy measurement, and performance-based two-part regulation compensation. [ABSTRACT FROM PUBLISHER]
Details
- Language :
- English
- ISSN :
- 08858950
- Volume :
- 30
- Issue :
- 1
- Database :
- Complementary Index
- Journal :
- IEEE Transactions on Power Systems
- Publication Type :
- Academic Journal
- Accession number :
- 100077263
- Full Text :
- https://doi.org/10.1109/TPWRS.2014.2320519