Title

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.

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

Share

 
COinS