publication . Article . Other literature type . 2017

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

Amin Shokri Gazafroudi; Miadreza Shafie-khah; Mehrdad Abedi; S. Hossein Hosseinian; Gholam Hossein Riahy Dehkordi; Lalit Goel; Peyman Karimyan; Francisco Prieto-Castrillo; Juan Manuel Corchado; João P.S. Catalão;
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, Control engineering, Power system simulation, Cost allocation, Engineering, business.industry, business, Wind power generation, Operations research, Electric power system, Electric power transmission, Electricity market
Funded by
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
,
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
,
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/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/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
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