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Locational pricing and scheduling for an integrated energy-reserve market

Jie Chen, J.S. Thorp, R.J. Thomas, T.D. Mount
2003 36th Annual Hawaii International Conference on System Sciences, 2003. Proceedings of the  
With the Lagrange multipliers (dual variables) obtained, the scheduling algorithm also reveals the locational shadow prices for the reserve and energy requirements.  ...  By following a cost-minimizing co-optimization procedure, both power and reserve are allocated spatially for the combined energy and reserve markets.  ...  In this way, the proposed scheduling and pricing algorithm provides locational assignments and locational prices for energy and reserves based on a true co-optimization of both energy and reserves.  ... 
doi:10.1109/hicss.2003.1173864 dblp:conf/hicss/ChenTTM03 fatcat:kjv4hmyyhbhtdnalao4j6ojkti

Electricity Market Design: An Integrated Approach to Reliability Assurance

J.H. Chow, W. De Mello, K.W. Cheung
2005 Proceedings of the IEEE  
System reliability is an integral part of a properly designed deregulated electricity market, even though wholesale energy prices are its most visible piece.  ...  of energy and ancillary services for security-constrained generator unit commitment in the day-ahead market and security-constrained economic dispatch of the generators in real-time operation.  ...  ACKNOWLEDGMENT The authors would like to thank their colleagues at NYISO and AREVA for discussions on system reliability issues.  ... 
doi:10.1109/jproc.2005.857493 fatcat:5wvvtpcvobaopic4umemizwufa

An integrated reservoir-power system model for evaluating the impacts of wind integration on hydropower resources

Jordan D. Kern, Dalia Patino-Echeverri, Gregory W. Characklis
2014 Renewable Energy  
Validation of the model shows it can accurately reproduce market price dynamics and dam storage and release patterns under current conditions.  ...  This work represents an attempt to begin filling this gap through the development of a systems-based modeling framework for analysis of wind power integration and its impacts on hydropower resources.  ...  Wind integration case study The EM model was used to simulate market prices for DA and RT electricity and reserves under three different levels (0%, 5% and 25%) of average daily wind market penetration  ... 
doi:10.1016/j.renene.2014.06.014 fatcat:khfafailtncf5ad6q7gwjgabvq

Investigations of Various Market Models in a Deregulated Power Environment Using ACOPF

Aruna Kanagaraj, Kumudini Devi Raguru Pandu
2020 Energies  
Various market models were formulated for the evaluation of locational marginal pricing (LMP) in the energy market and locational contingency marginal reserve pricing (LCMRP) in the reserve market.  ...  A bi-level electricity market clearing process was developed for energy and reserve allocation in the day-ahead market using AC Optimal Power Flow (ACOPF).  ...  Both authors have read and agreed to the published version of the manuscript.  ... 
doi:10.3390/en13092354 fatcat:rt5t4jum35a3lpq5vkatcgt6fy

Interface Between Engineering and Market Operations in Restructured Electricity Systems

Hung-Po Chao, S.S. Oren, A. Papalexopoulos, D.J. Sobajic, R. Wilson
2005 Proceedings of the IEEE  
We examine the impact of wholesale markets on operations of the bulk power system and elaborate some basic implications of engineering practices for designs of wholesale markets.  ...  Wholesale markets bring economic and financial aspects that alter the context in which system operations are conducted, and introduce incentive and benefit-cost considerations that might alter operating  ...  Experience from the first five years of these markets showed that it is a difficult task to design an efficient integrated system of forward and spot markets for energy, transmission, and reserves.  ... 
doi:10.1109/jproc.2005.857491 fatcat:rkxf45v7vrflzj2mmqzhqjet7q

Electricity market design

Peter Cramton
2017 Oxford review of economic policy  
Locational marginal prices, reflecting the marginal value of energy at each time and location, are used in settlement.  ...  The core elements are a day-ahead market for optimal scheduling of resources and a real-time market for security-constrained economic dispatch.  ...  Resources are required to have an energy offer curve or, for self-scheduled units, an output schedule. An output schedule specifies the resource's output in every 5-minute interval.  ... 
doi:10.1093/oxrep/grx041 fatcat:nsdilobicjbf3atwxll74gzvii

Impact of variable renewable energy on US electricity markets

J C Smith, Stephen Beuning, Henry Durrwachter, Erik Ela, David Hawkins, Brendan Kirby, Warren Lasher, Jonathan Lowell, Kevin Porter, Ken Schuyler, Paul Sotkiewicz
2010 IEEE PES General Meeting  
For example, in CAISO, wind and solar energy production are currently forecasted and scheduled on an hour-ahead basis and settled financially in the real-time energy market (on a monthly averaged basis  ...  This process is purely a financial way to establish prices and schedules for the day-ahead market.  ... 
doi:10.1109/pes.2010.5589715 fatcat:xofwfu2nbrgg3hgyeibb4anq4y

Midwest iso co-optimization based real-time dispatch and pricing of energy and ancillary services

Xingwang Ma, Yonghong Chen, Jie Wan
2009 2009 IEEE Power & Energy Society General Meeting  
Key words -Real-time dispatch and pricing, LMP, Energy and ancillary service co-optimization, Intra-day reliability commitment, and Reserve demand curves Manitoba, Canada Generation Capacity 130,000 MW  ...  Midwest ISO's real-time market design with energy and ancillary service co-optimization is reported in this paper.  ...  Midwest ISO's co-optimized energy and AS market is scheduled for operation on January 6, 2009.  ... 
doi:10.1109/pes.2009.5276010 fatcat:un3qu65iknffpflop5g36d5dzm

Economic Optimal Operation of Community Energy Storage Systems in Competitive Energy Markets [article]

Reza Arghandeh, Jeremy Woyak, Ahmet Onen, Jaesung Jung, Robert P. Broadwater
2014 arXiv   pre-print
An algorithm for optimal charge/discharge scheduling of community energy storage (CES) devices as well as an analysis of several of the key drivers of the optimization are discussed.  ...  This paper presents a means of realizing additional benefits by taking advantage of the fluctuating costs of energy in competitive energy markets.  ...  Acknowledgments The authors wish to thank the Department of Energy and DTE Energy for support of this work on the Smart Grid Demonstration Project (DE-OE0000229) entitled "Detroit Edison's Advanced Implementation  ... 
arXiv:1407.0433v2 fatcat:5kbidffta5cnfdtixbmfrbl7rm

Economic optimal operation of Community Energy Storage systems in competitive energy markets

Reza Arghandeh, Jeremy Woyak, Ahmet Onen, Jaesung Jung, Robert P. Broadwater
2014 Applied Energy  
An algorithm for optimal charge/discharge scheduling of community energy storage (CES) devices as well as an analysis of several of the key drivers of the optimization are discussed.  ...  This paper presents a means of realizing additional benefits by taking advantage of the fluctuating costs of energy in competitive energy markets.  ...  Acknowledgments The authors wish to thank the Department of Energy and DTE Energy for support of this work on the Smart Grid Demonstration Project (DE-OE0000229) entitled "Detroit Edison's Advanced Implementation  ... 
doi:10.1016/j.apenergy.2014.08.066 fatcat:q64uod2dhvgolaffiq3pqoiuku

The Role of the ISO in U.S. Electricity Markets

Lisa Cameron, Peter Cramton
1999 Electricity Journal  
Overview California's electricity market consists of: (1) a number of competing forward markets for energy, (2) day-ahead and hour-ahead markets for transmission and for ancillary services, and (3) a real-time  ...  Scheduling coordinators (SCs) run the forward energy markets. The ISO manages the spot market.  ...  Replacement reserve is capacity that can be delivered as energy within one hour. 12 Suppliers submit bids for these four markets with their day ahead energy schedules, offering both a capacity and an energy  ... 
doi:10.1016/s1040-6190(99)00016-0 fatcat:2hmd55pvnneehpssvfqjqmyflu

Scheduling when Reservoirs are Batteries for Wind- and Solar-power

Ove Wolfgang, Arild Lote Henden, Michael Martin Belsnes, Christoph Baumann, Andreas Maaz, Andreas Schäfer, Albert Moser, Michaela Harasta, Trygve Døble
2016 Energy Procedia  
In this paper we take the perspective of a competitive hydropower producer located in Southern Norway, and calculate the profitability of investing in a pumped storage facility in price-scenario for Europe  ...  A methodology to analyze the combined supply of day-ahead energy and real-time balancing is described and applied.  ...  Acknowledgements We are grateful for financial support from Research Council of Norway and industry partners in CEDREN.  ... 
doi:10.1016/j.egypro.2015.12.348 fatcat:ik77r7d765hkdb3n745p4i2j7u

Impact of Inter- and Intra-Regional Coordination in Markets With a Large Renewable Component

Stefanos Delikaraoglou, Juan M. Morales, Pierre Pinson
2016 IEEE Transactions on Power Systems  
The proposed models are formulated as stochastic equilibrium problems and compared against an optimal market setup.  ...  In the absence of a specific target model for the common balancing market in Europe, we introduce a framework to compare different coordination schemes and market organizations.  ...  His research interests include electricity market modeling, stochastic programming, equilibrium models and hierarchical optimization. Stefanos Delikaraoglou  ... 
doi:10.1109/tpwrs.2016.2530981 fatcat:pruzxzegrbgznp7qunvjbkwn6i

Impacts of Energy Storage on Short Term Operation Planning Under Centralized Spot Markets

Carlos Suazo-Martinez, Eduardo Pereira-Bonvallet, Rodrigo Palma-Behnke, Xiao-Ping Zhang
2014 IEEE Transactions on Smart Grid  
to provide energy arbitrage, primary or/and secondary reserve.  ...  Influence of ESS in marginal price signals is also discussed. The undertaken discussion provides insight information for agents in liberalized markets.  ...  The reduction in energy prices volatility is an important aspect for developers of renewable energy projects.  ... 
doi:10.1109/tsg.2013.2281828 fatcat:mxqz7yjfzvdwllxupg5t46wula

Rethinking short-term electricity market design: Options for market segment integration

Susanne Ries, Christoph Neumann, Samuel Glismann, Michael Schoepf, Gilbert Fridgen
2017 2017 14th International Conference on the European Energy Market (EEM)  
The paper especially focusses on two options, namely an integrated BA and CM market and an integrated ID and CM market. For these options we determine the basic design features.  ...  We develop a conceptual basis for a possible integration of currently separated short-term market segments.  ...  This creates an increased competition for balancing energy prices and extends the balancing energy merit-order list.  ... 
doi:10.1109/eem.2017.7981931 fatcat:v65b5wjjcbebfj7wzi6nv75uty
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