Extracting Appropriate Nodal Marginal Prices for All Types of Committed Reserve

This paper proposes a framework to extract appropriate locational marginal prices for each type of reserve (up-/down-going reserves at both generation- and demand-sides). The proposed reserve pricing scheme accounts for the lost opportunity of selling the convertible products (energy and reserve). T...

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Veröffentlicht in:Computational economics Jg. 53; H. 1; S. 1 - 26
Hauptverfasser: Akbary, Paria, Ghiasi, Mohammad, Pourkheranjani, Mohammad Reza Rezaie, Alipour, Hamidreza, Ghadimi, Noradin
Format: Journal Article
Sprache:Englisch
Veröffentlicht: New York Springer US 01.01.2019
Springer Nature B.V
Schlagworte:
Appropriateness
Behavioral/Experimental Economics
Computer Appl. in Social and Behavioral Sciences
Economic Theory/Quantitative Economics/Mathematical Methods
Economics
Economics and Finance
Math Applications in Computer Science
Operations Research/Decision Theory
Prices
Pricing
Pricing policies
Reliability
Reserves
Test validity and reliability
Up-/down-going demand-/generation-side reserves
Security constraint unit commitment (SCUC)
Marginal pricing
ISSN:0927-7099, 1572-9974
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Zusammenfassung:This paper proposes a framework to extract appropriate locational marginal prices for each type of reserve (up-/down-going reserves at both generation- and demand-sides). The proposed reserve pricing scheme accounts for the lost opportunity of selling the convertible products (energy and reserve). The fair prices can be obtained for capacity reserves applying this framework, since this framework assigns the same prices to the same services provided at the same location. The proposed reserve pricing scheme provides all the market participants with the appropriate signals to modify their offers according to the system operator requirements. The pricing problem is decomposed to different hourly sub-problems considering the bounding constraints. To show the effectiveness of the proposed algorithm, it is applied to the IEEE reliability test system and the results are discussed.
Bibliographie:ObjectType-Article-1
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ISSN:0927-7099
1572-9974
DOI:10.1007/s10614-017-9716-2