3 Scopus citations

Abstract

The level of uncertainty, which the power system operators should account for, increases as more renewables are integrated in the system. Additional operating reserves needs to be scheduled within security constrained economic dispatch (SCED) to ensure reliability. Existing practices rely on conventional genera-tors for providing operational flexibility required to mitigate the uncertainty introduced by renewables. However, with the in-creased share of renewables in the generation mix, such intermittent resources would be expected to take part in the balancing tasks, too. Providing a reserve margin allows wind generators to hedge against uncertainty. This paper examines the market implications of wind reserve margin policies used to mitigate uncertainty from wind resources. The market implications of the recently proposed optimized reserve margin policy factors are studied. Analysis on the Reliability Test System 1996 (RTS-96) shows that reserve margin policy factors along with the proposed compensation scheme help in allocating payments toward renewable resources that present a good quality of service.

Original languageEnglish (US)
JournalIEEE Transactions on Power Systems
DOIs
StateAccepted/In press - Mar 20 2018

Keywords

  • Electric energy markets
  • flexibility
  • Generators
  • power generation dispatch
  • power system economic assessment
  • power system reliability
  • Power systems
  • quality of reserve
  • quality of service
  • renewable energy
  • reserve payments
  • reserve policy
  • reserve requirements
  • reserve scheduling
  • spinning reserve
  • stochastic optimization
  • Stochastic processes
  • stochastic reserve
  • Uncertainty
  • uncertainty modeling
  • Wind forecasting
  • wind generation integration
  • Wind power generation

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

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