A nodal regulation reserve pricing model for deregulated power systems

Fengyu Wang; Yonghong Chen; Kory W. Hedman; Rui Bo; Tao Ding

doi:10.1109/NAPS.2017.8107376

A nodal regulation reserve pricing model for deregulated power systems

Fengyu Wang
, Yonghong Chen
, Kory W. Hedman
, Rui Bo
, Tao Ding

School of Electrical Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

1 Scopus citations

Abstract

To improve reserve deliverability, independent system operators (ISOs) acquire reserve on a zonal basis to ensure the reserves are at least zonally distributed. Notwithstanding the ability for zonal approaches to improve the reserve location, such approaches are imprecise and do not guarantee reserve deliverability on a nodal basis. In order to satisfy operational requirements, unreliable market solutions require additional operator manual adjustments; such uneconomic adjustments are typically expensive and they can distort market price signals. This paper proposes an approach to acquire regulation reserve on a nodal basis. Analysis on the RTS-96 shows that modeling post nodal regulation reserve deployment constraints improve reserve deliverability, market efficiency, and price signals.

Original language	English
Title of host publication	2017 North American Power Symposium, NAPS 2017
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781538626993
DOIs	https://doi.org/10.1109/NAPS.2017.8107376
State	Published - 13 Nov 2017
Event	2017 North American Power Symposium, NAPS 2017 - Morgantown, United States Duration: 17 Sep 2017 → 19 Sep 2017

Publication series

Name	2017 North American Power Symposium, NAPS 2017

Conference

Conference	2017 North American Power Symposium, NAPS 2017
Country/Territory	United States
City	Morgantown
Period	17/09/17 → 19/09/17

Keywords

Locational reserve payments
power system economics
reserve requirements
reserve zones

Access to Document

10.1109/NAPS.2017.8107376

Cite this

@inproceedings{687a8c64c70241ecb07e88d0572cebaf,

title = "A nodal regulation reserve pricing model for deregulated power systems",

abstract = "To improve reserve deliverability, independent system operators (ISOs) acquire reserve on a zonal basis to ensure the reserves are at least zonally distributed. Notwithstanding the ability for zonal approaches to improve the reserve location, such approaches are imprecise and do not guarantee reserve deliverability on a nodal basis. In order to satisfy operational requirements, unreliable market solutions require additional operator manual adjustments; such uneconomic adjustments are typically expensive and they can distort market price signals. This paper proposes an approach to acquire regulation reserve on a nodal basis. Analysis on the RTS-96 shows that modeling post nodal regulation reserve deployment constraints improve reserve deliverability, market efficiency, and price signals.",

keywords = "Locational reserve payments, power system economics, reserve requirements, reserve zones",

author = "Fengyu Wang and Yonghong Chen and Hedman, \{Kory W.\} and Rui Bo and Tao Ding",

note = "Publisher Copyright: {\textcopyright} 2017 IEEE.; 2017 North American Power Symposium, NAPS 2017 ; Conference date: 17-09-2017 Through 19-09-2017",

year = "2017",

month = nov,

day = "13",

doi = "10.1109/NAPS.2017.8107376",

language = "英语",

series = "2017 North American Power Symposium, NAPS 2017",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

booktitle = "2017 North American Power Symposium, NAPS 2017",

}

Wang, F, Chen, Y, Hedman, KW, Bo, R & Ding, T 2017, A nodal regulation reserve pricing model for deregulated power systems. in 2017 North American Power Symposium, NAPS 2017., 8107376, 2017 North American Power Symposium, NAPS 2017, Institute of Electrical and Electronics Engineers Inc., 2017 North American Power Symposium, NAPS 2017, Morgantown, United States, 17/09/17. https://doi.org/10.1109/NAPS.2017.8107376

A nodal regulation reserve pricing model for deregulated power systems. / Wang, Fengyu; Chen, Yonghong; Hedman, Kory W. et al.
2017 North American Power Symposium, NAPS 2017. Institute of Electrical and Electronics Engineers Inc., 2017. 8107376 (2017 North American Power Symposium, NAPS 2017).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - A nodal regulation reserve pricing model for deregulated power systems

AU - Wang, Fengyu

AU - Chen, Yonghong

AU - Hedman, Kory W.

AU - Bo, Rui

AU - Ding, Tao

PY - 2017/11/13

Y1 - 2017/11/13

N2 - To improve reserve deliverability, independent system operators (ISOs) acquire reserve on a zonal basis to ensure the reserves are at least zonally distributed. Notwithstanding the ability for zonal approaches to improve the reserve location, such approaches are imprecise and do not guarantee reserve deliverability on a nodal basis. In order to satisfy operational requirements, unreliable market solutions require additional operator manual adjustments; such uneconomic adjustments are typically expensive and they can distort market price signals. This paper proposes an approach to acquire regulation reserve on a nodal basis. Analysis on the RTS-96 shows that modeling post nodal regulation reserve deployment constraints improve reserve deliverability, market efficiency, and price signals.

AB - To improve reserve deliverability, independent system operators (ISOs) acquire reserve on a zonal basis to ensure the reserves are at least zonally distributed. Notwithstanding the ability for zonal approaches to improve the reserve location, such approaches are imprecise and do not guarantee reserve deliverability on a nodal basis. In order to satisfy operational requirements, unreliable market solutions require additional operator manual adjustments; such uneconomic adjustments are typically expensive and they can distort market price signals. This paper proposes an approach to acquire regulation reserve on a nodal basis. Analysis on the RTS-96 shows that modeling post nodal regulation reserve deployment constraints improve reserve deliverability, market efficiency, and price signals.

KW - Locational reserve payments

KW - power system economics

KW - reserve requirements

KW - reserve zones

UR - https://www.scopus.com/pages/publications/85040542163

U2 - 10.1109/NAPS.2017.8107376

DO - 10.1109/NAPS.2017.8107376

M3 - 会议稿件

AN - SCOPUS:85040542163

T3 - 2017 North American Power Symposium, NAPS 2017

BT - 2017 North American Power Symposium, NAPS 2017

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 2017 North American Power Symposium, NAPS 2017

Y2 - 17 September 2017 through 19 September 2017

ER -

A nodal regulation reserve pricing model for deregulated power systems

Abstract

Publication series

Conference

Keywords

Access to Document

Other files and links

Fingerprint

Cite this