A Nodal Regulation Reserve Pricing Model for Deregulated Power Systems
Abstract
To improve reserve deliverability, independent system operators (ISOs) acquire reserve on a zonal basis to ensure the reserves are at least zonally distributed. Notwithstanding the ability for zonal approaches to improve the reserve location, such approaches are imprecise and do not guarantee reserve deliverability on a nodal basis. In order to satisfy operational requirements, unreliable market solutions require additional operator manual adjustments; such uneconomic adjustments are typically expensive and they can distort market price signals. This paper proposes an approach to acquire regulation reserve on a nodal basis. Analysis on the RTS-96 shows that modeling post nodal regulation reserve deployment constraints improve reserve deliverability, market efficiency, and price signals.
Recommended Citation
F. Wang et al., "A Nodal Regulation Reserve Pricing Model for Deregulated Power Systems," Proceedings of the 2017 North American Power Symposium (2017, Morgantown, WV), Institute of Electrical and Electronics Engineers (IEEE), Sep 2017.
The definitive version is available at https://doi.org/10.1109/NAPS.2017.8107376
Meeting Name
2017 North American Power Symposium, NAPS 2017 (2017: Sep. 17-19, Morgantown, WV)
Department(s)
Electrical and Computer Engineering
Research Center/Lab(s)
Intelligent Systems Center
Keywords and Phrases
Commerce; Economics; Electric utilities; Deliverability; Deregulated power systems; Independent system operators; Locational reserve payments; Market efficiency; Operational requirements; Power system economics; Reserve requirements; Costs; Reserve zones
International Standard Book Number (ISBN)
978-1-5386-2699-3
Document Type
Article - Conference proceedings
Document Version
Citation
File Type
text
Language(s)
English
Rights
© 2017 Institute of Electrical and Electronics Engineers (IEEE), All rights reserved.
Publication Date
01 Sep 2017
