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A market clearing method with consideration of power generation response reliability

Najafi, M ; Sharif University of Technology

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  1. Type of Document: Article
  2. Abstract:
  3. A method for clearing energy and reserve market in an aggregated framework is presented in this paper. The objective function of the optimization problem considers offered costs for energy and reserve requirements, the cost of nondelivery energy and the cost of nondelivery reserve. Incorporating these costs in the objective function, the proposed algorithm can obtain a solution in which the market required energy and reserve capacities are assigned to generating units with lower costs and higher response reliability. A new method based on optimal selection of nondelivery compensation alternatives is proposed to determine the mentioned costs. The proposed procedure provides incentives for generating companies to improve their reliability and have higher share in the market. A test system is applied to show effectiveness of the proposed method
  4. Keywords:
  5. Aggregated framework ; Clearing method ; NonDelivery energy Cost ; NonDelivery reserve cost ; Response reliability
  6. Source: International Review of Electrical Engineering ; Vol. 5, issue. 3 , 2010 , p. 1297-1306 ; ISSN: 18276660
  7. URL: http://connection.ebscohost.com/c/articles/66191390/market-clearing-method-consideration-power-generation-response-reliability