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.
Recommended Citation
Y. Gu et al., "Quantifying the Benefits of Energy and Ancillary Services Market," Proceedings of the 2013 IEEE Power and Energy Society General Meeting (2013, Vancouver, Canada), pp. 1 - 5, Institute of Electrical and Electronics Engineers (IEEE), Jul 2013.
The definitive version is available at https://doi.org/10.1109/PESMG.2013.6672486
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)
978-1479913039
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.
Publication Date
01 Jul 2013
