publication . Article . Other literature type . 2017

A novel stochastic reserve cost allocation approach of electricity market agents in the restructured power systems

Seyed Hossein Hosseinian; J.P.S. Catalao;
Open Access English
  • Published: 01 Nov 2017
Abstract
In this paper, a new mechanism is proposed to apportion expected reserve costs between electricity market agents in the power system. The uncertainties of generation units, transmission lines, wind power generation and electrical loads are considered in this model. Hence, a Stochastic Unit Commitment (SUC) is used to apply the uncertainty of stochastic variables in the simultaneous energy and reserve market- clearing problem. Moreover, electrical customers can participate in the electricity market based on their desired strategies. In this paper, a novel method is proposed to allocate reserve costs between GenCos, TransCos, electrical customers and wind farm own...
Subjects
free text keywords: Customer choice of reliability, Simultaneous market clearing, Stochastic programming, Reserve cost allocation, Wind power integrating
Funded by
EC| SINGULAR
Project
SINGULAR
Smart and Sustainable Insular Electricity Grids Under Large-Scale Renewable Integration
  • Funder: European Commission (EC)
  • Project Code: 309048
  • Funding stream: FP7 | SP1 | ENERGY
,
FCT| UID/EMS/00151/2013
Project
UID/EMS/00151/2013
Centre for Mechanical and Aerospace Science and Technologies
  • Funder: Fundação para a Ciência e a Tecnologia, I.P. (FCT)
  • Project Code: 147350
  • Funding stream: 5876
,
EC| DREAM-GO
Project
DREAM-GO
Enabling Demand Response for short and real-time Efficient And Market Based smart Grid Operation - An intelligent and real-time simulation approach
  • Funder: European Commission (EC)
  • Project Code: 641794
  • Funding stream: H2020 | MSCA-RISE
,
FCT| UID/CEC/50021/2013
Project
UID/CEC/50021/2013
Instituto de Engenharia de Sistemas e Computadores, Investigação e Desenvolvimento em Lisboa
  • Funder: Fundação para a Ciência e a Tecnologia, I.P. (FCT)
  • Project Code: 147282
  • Funding stream: 5876
,
FCT| UID/EEA/50014/2013
Project
UID/EEA/50014/2013
INESC TEC - INESC Technology and Science
  • Funder: Fundação para a Ciência e a Tecnologia, I.P. (FCT)
  • Project Code: 147326
  • Funding stream: 5876
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