Abstract
Most of current researches on the reserve capacity market assume that required reserve capacity is predetermined. This means the demand of reserve capacity market is inelastic. This paper considers that reserve capacity in a power system is elastic, so it should be optimized by cost-benefit analysis. Based on reliability evaluation of the generation system, the paper proposed a bidding model of reserve capacity market, which can simultaneously determine optimal reserve capacity and clear the reserve capacity market. By using a heuristic method, the paper suggests a very efficient algorithm to solve the above model. Case studies for real power systems demonstrate usefulness and efficiencies of the proposed model.
| Original language | English |
|---|---|
| Pages (from-to) | 7-11 |
| Number of pages | 5 |
| Journal | Dianli Xitong Zidonghua/Automation of Electric Power Systems |
| Volume | 27 |
| Issue number | 2 |
| State | Published - 25 Jan 2003 |
Keywords
- Ancillary service
- Benefit analysis
- Electricity market
- Reserve capacity