Title

Quantifying the Benefits of Energy and Ancillary Services Market

Abstract

This paper presents a methodology to quantify the economic benefits of having centralized energy market and ancillary services market. A long-term production cost simulation model, which performs security-constrained unit commitment (SCUC) and security-constrained economic dispatch (SCED), is employed to simulate the operating conditions of the system with and without the energy and ancillary services market. The proposed methodology is used in the Midwest Independent Transmission System Operator, Inc. (MISO)'s Value Proposition study, which looks into the value provided by MISO to its market participants and their customers.

Meeting Name

2013 IEEE Power and Energy Society General Meeting, PES 2013 (2013: Jul. 21-25, Vancouver, Canada)

Department(s)

Electrical and Computer Engineering

Keywords and Phrases

Ancillary Services Markets; Energy Markets; Production Cost; Reserve; Value Proposition; Computer Simulation; Scheduling; Commerce; Ancillary Services Market; Energy Market

International Standard Book Number (ISBN)

9781479913039

International Standard Serial Number (ISSN)

1944-9925

Document Type

Article - Conference proceedings

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2013 Institute of Electrical and Electronics Engineers (IEEE), All rights reserved.

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