Can we prevent the gaming of ramp constraints?

Oren, Shmuel S.; Ross, Andrew M.

doi:10.1016/j.dss.2004.05.008

Cited by 22 publications

(9 citation statements)

References 5 publications

(3 reference statements)

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“…A number of studies, including [16] and [17], have demonstrated potential incentive issues with generators being able to profitably misstate their cost and constraint parameters when offering generation into a centrally-committed market. If one expects the exercise of market power to increase real-time prices, perhaps disproportionately in peak periods when supply is scarce, then our simulations may underestimate the extent to which RTP could flatten peaks and affect the load pattern.…”

Section: Discussionmentioning

confidence: 99%

Evaluating the Impacts of Real-Time Pricing on the Usage of Wind Generation

Sioshansi¹,

Short

2009

IEEE Trans. Power Syst.

186

119

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One of the impediments to large-scale use of wind generation within power systems is its nondispatchability and variable and uncertain real-time availability. Operating constraints on conventional generators such as minimum generation points, forbidden zones, and ramping limits as well as system constraints such as power flow limits and ancillary service requirements may force a system operator to curtail wind generation in order to ensure feasibility. Furthermore, the pattern of wind availability and electricity demand may not allow wind generation to be fully utilized in all hours. One solution to these issues, which could reduce these inflexibilities, is the use of real-time pricing (RTP) tariffs which can both smooth-out the diurnal load pattern in order to reduce the impact of binding unit operating and system constraints on wind utilization, and allow demand to increase in response to the availability of costless wind generation. We use and analyze a detailed unit commitment model of the Texas power system with different estimates of demand elasticities to demonstrate the potential increases in wind generation from implementing RTP.

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Section: Discussionmentioning

confidence: 99%

Evaluating the Impacts of Real-Time Pricing on the Usage of Wind Generation

Sioshansi¹,

Short

2009

IEEE Trans. Power Syst.

186

119

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“…There is a strong body of research that studies the design and implementation of auctions in these markets looking at various aspects, such as bidding behavior, computation of market clearing prices, and the efficiency of the resulting dispatch (e.g., Derinkuyu , Elmaghraby , Madani and Van Vyve , Meeus et al. , Oren and Ross , Pritchard and Philpott , Reguant , , Schummer and Vohra , Singer , Toczy lowski and Zoltowska ).…”

Section: Electric Power Industry Research Frontier and Potential Resementioning

confidence: 99%

Electric Power Industry: Operational and Public Policy Challenges and Opportunities

Parker

Tan

Kazan

2019

Production and Operations Management

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The electric power industry is undergoing dramatic change driven by rapid technological transformation, concern over climate change, and evolving market structures. As a result, there is a need for new models to help the industry better utilize resources in a time of increasing uncertainty and to help government policy makers better understand the impacts of their regulatory decisions. We provide a structured review of the operations research and management science literatures to describe the current operational and policy issues in the electric power industry, with a particular focus on issues surrounding electricity market design, renewable integration, effects of climate policy on electric power infrastructure, rise of electric powered vehicles, energy storage, and the growing interdependence between natural gas and electric power sectors. We identify the current research frontier and classify the existing research into clusters with respect to managerial issues addressed. We offer a forecast for where the electric power industry is going and describe some important public policy issues. Finally, we highlight research opportunities and discuss how the management science community can contribute by considering the interaction between operational considerations and electric power policy.

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“…Ruff (1994), Hogan (1994), Hogan (1995), Hunt (2002) support centrally committed markets because they give the SO, which has the best information about the electric system as a whole, the authority to make both commitment and dispatch decisions. However, Oren and Ross (2005) show that generators can have incentives to misstate their costs to increase profit if the SO collects multipart bids. Moreover, Johnson et al (1997), Sioshansi et al (2008) claim that incentive compatibility issues in a centrally committed market can be further exacerbated if the SO must rely on suboptimal solutions to its unit commitment model.…”

Section: Introductionmentioning

confidence: 97%