Experience with implementing simultaneous co-optimization in the midwest ISO energy and operating reserve markets

Matthew H. Tackett
2009 2009 IEEE/PES Power Systems Conference and Exposition  
Midwest ISO The Midwest ISO will operate a Day-Ahead Energy and Operating Market, a Reliability Assessment Commitment process and a Real-Time Energy and Operating Reserve Market. The Day-Ahead Energy and Operating Reserve Market is a financially binding market that clears energy, regulating reserve, spinning reserve and supplemental reserve on an hourly basis. The Reliability Assessment Commitment (RAC) process is a process to commit resources, schedule regulating reserve on committed resources
more » ... and/or release emergency operating ranges on resources when appropriate on an hourly basis for use in the Real-Time Energy and Operating Reserve Market. The RAC process can be executed on a multi-day, day-ahead and/or intra-day basis. The Real-Time Energy and Operating Reserve Market is a financially and physically binding market that clears energy, regulating reserve, spinning reserve and supplemental reserve on a five-minute basis. The Midwest ISO will utilize a simultaneously co-optimized Security Constrained Unit Commitment (SCUC) algorithm and a simultaneously co-optimized Security Constrained Economic Dispatch (SCED) algorithm to operate the Day-Ahead Energy and Operating Reserve Market. The simultaneously co-optimized SCUC algorithm is used in the Day-Ahead Energy and Operating Reserve Market to commit resources, schedule regulating reserves on committed resources and/or release emergency operating ranges on resources in the Day-Ahead Energy and Operating Reserve Market. The simultaneously co-optimized SCED algorithm is used in the Day-Ahead Energy and Operating Reserve Market to clear and price energy, regulating reserve, spinning reserve and supplemental reserve on an hourly basis. Demand curves are utilized to price Energy and Operating Reserve during times of scarcity. 978-1-4244-3811-2/09/$25.00 ©2009 IEEE
doi:10.1109/psce.2009.4840252 fatcat:ugnmb2hq4vdppn46sawhbwoguu