A nodal regulation reserve pricing model for deregulated power systems

Fengyu Wang, Yonghong Chen, Kory Hedman, Rui Bo, Tao Ding

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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.

Original languageEnglish (US)
Title of host publication2017 North American Power Symposium, NAPS 2017
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781538626993
DOIs
StatePublished - Nov 13 2017
Event2017 North American Power Symposium, NAPS 2017 - Morgantown, United States
Duration: Sep 17 2017Sep 19 2017

Other

Other2017 North American Power Symposium, NAPS 2017
CountryUnited States
CityMorgantown
Period9/17/179/19/17

Keywords

  • Locational reserve payments
  • power system economics
  • reserve requirements
  • reserve zones

ASJC Scopus subject areas

  • Computer Networks and Communications
  • Energy Engineering and Power Technology
  • Control and Optimization
  • Electrical and Electronic Engineering

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  • Cite this

    Wang, F., Chen, Y., Hedman, K., Bo, R., & Ding, T. (2017). A nodal regulation reserve pricing model for deregulated power systems. In 2017 North American Power Symposium, NAPS 2017 [8107376] Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/NAPS.2017.8107376