Reliability-based reserve management in a bilateral power market

Wang, P.; Goel, L.

doi:10.1016/s0378-7796(03)00094-4

Cited by 18 publications

(16 citation statements)

References 7 publications

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“…Providing electrical demand of consumers and reliability of the power systems are two main reasons why reserve is needed. Hence, Demand Factors (DFs) of electrical consumers that are defined for the first time in [9] are considered in this paper, in order to express the corresponding reliability level of customers. Effects of electrical demand and Expected Energy Not Supplied (EENS), as a reliability criteria, are considered in DF as in (1): (1) where L jt represents the total load of consumer j in time t. Customers are classified into different groups based on their DFs as seen in (2).…”

Section: Proposed Reserve Costs Allocation Modelmentioning

confidence: 99%

“…In [7], a method has been proposed to obtain optimal bidding of operating reserves in the sequential market clearing of the Spanish electricity market. The flexible Expected Energy Not Supplied (EENS) criteria and the load point reliability of customers have been presented to allocate the reserves, respectively in [8] and [9]. In [10], authors present the reserve cost allocation method through market agents based on the desired reliability level of electrical consumers.…”

Section: Introductionmentioning

confidence: 99%

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Reserve costs allocation model for energy and reserve market simulation

Pinto

Gazafroudi

Prieto‐Castrillo

et al. 2017

2017 19th International Conference on Intelligent System Application to Power Systems (ISAP)

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Abstract-This paper proposes a new model to allocate reserve costs among the involved players, considering the characteristics of the several entities, and the particular circumstances at each moment. The proposed model is integrated in the Multi-Agent Simulator of Competitive Electricity Markets (MASCEM), which enables complementing the multi-agent simulation of diverse electricity market models, by including the co-simulation of energy and reserve markets. In this context, the proposed model allows allocating the payment of reserve costs that result from the reserve market. A simulation based on real data from the Iberian electricity market -MIBEL, is presented. Simulation results show the advantages of the proposed model in sharing the reserve costs fairly and accordingly to the different circumstances. This work thus contributes the study of novel market models towards the evolution of power and energy systems, with the objective of adapting current and future models to the new paradigm of high renewable energy generation penetration.

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Section: Proposed Reserve Costs Allocation Modelmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Reserve costs allocation model for energy and reserve market simulation

Pinto

Gazafroudi

Prieto‐Castrillo

et al. 2017

2017 19th International Conference on Intelligent System Application to Power Systems (ISAP)

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show abstract

“…Customers get to choose power generation vendors on the basis of their quantified credentials by way of estimated load point adequacy indices -Loss of Load Probability (LOLP) and Expected Energy Not Served (EENS) [1][2][3][4][5][6][7][8][9][10]. The reliability contribution of all the market players can be calculated and presented to customers, who can then exercise their options judiciously.…”

Section: Introductionmentioning

confidence: 99%

“…Hence, Gencos usually involve in prior reserve agreements with other competing parties to strengthen their reliability claims. Incorporation of reserve agreements slightly modifies the modeling strategy of equivalents [4,6].…”

Section: Introductionmentioning

confidence: 99%

A tracing-based realistic state space selection method for composite power system reliability assessment in the restructured scenario

Verma

Venu

2008

2008 IEEE Power and Energy Society General Meeting - Conversion and Delivery of Electrical Energy in the 21st Century

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Abstract--Electric power industry deregulation has brought about the unbundling of generation, transmission and distribution services and as such, new techniques for reliability assessment are being developed to account for the consequent structural changes in the restructured environment through direct analytical techniques or stochastic simulation. To this end, reliability equivalent techniques have been proposed in recent literature and are continuously being improvised upon, especially for the multi-bilateral contracts market structure. Power flow tracing, a potential tool that has so far only been effectively employed in transmission pricing in the open access environment, is deemed to be equally effective in capturing the effect of structural and economic alterations for the purpose of reliability evaluation in the liberalized regime. This paper elaborates on the idea that when used in tandem with reliability equivalent methods, tracing is bound to improve the accuracy of the indices in vogue. The contribution of individual generators and loads to line flows is obtained using a graph theoretic approach, relying on the proportional sharing principle. This information is then proposed to be used in the transmission line Failure Modes and Effects Analysis (FMEA) phase of the established procedure of reliability network equivalents. Comparisons are drawn to highlight the computational as well as accuracy benefits accrued in doing so.

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“…Based on this motivation, many works have been reported on how to price the priority service of power supply via interruptable contracts [5,6]. Paper [7] presented a technique to calculate the load point reliability in a bilateral power market considering reserve agreements, where consumes could evaluate their reliability using the reliability model provided by each generator to select their suppliers. Authors in ref.…”

Section: Introductionmentioning

confidence: 99%

Managing and operating the reserve market as one insurance system

Liu¹,

et al. 2007

Electric Power Systems Research

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Reliability-based reserve management in a bilateral power market

Cited by 18 publications

References 7 publications

Reserve costs allocation model for energy and reserve market simulation

Reserve costs allocation model for energy and reserve market simulation

A tracing-based realistic state space selection method for composite power system reliability assessment in the restructured scenario

Managing and operating the reserve market as one insurance system

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