Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

Hongxing Ye; Yinyin Ge; Mohammad Shahidehpour; Zuyi Li

doi:10.1109/PESGM.2016.7741847

Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

Hongxing Ye
, Yinyin Ge
, Mohammad Shahidehpour
, Zuyi Li

Illinois Institute of Technology

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

3 Scopus citations

Abstract

Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

Original language	English
Title of host publication	2016 IEEE Power and Energy Society General Meeting, PESGM 2016
Publisher	IEEE Computer Society
ISBN (Electronic)	9781509041688
DOIs	https://doi.org/10.1109/PESGM.2016.7741847
State	Published - 10 Nov 2016
Externally published	Yes
Event	2016 IEEE Power and Energy Society General Meeting, PESGM 2016 - Boston, United States Duration: 17 Jul 2016 → 21 Jul 2016

Publication series

Name	IEEE Power and Energy Society General Meeting
Volume	2016-November
ISSN (Print)	1944-9925
ISSN (Electronic)	1944-9933

Conference

Conference	2016 IEEE Power and Energy Society General Meeting, PESGM 2016
Country/Territory	United States
City	Boston
Period	17/07/16 → 21/07/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Flexibility
Marginal prices
Robust SCUC
Uncertainty

Access to Document

10.1109/PESGM.2016.7741847

Cite this

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title = "Pricing energy and flexibility in robust Security-Constrained Unit Commitment model",

abstract = "Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.",

keywords = "Flexibility, Marginal prices, Robust SCUC, Uncertainty",

author = "Hongxing Ye and Yinyin Ge and Mohammad Shahidehpour and Zuyi Li",

note = "Publisher Copyright: {\textcopyright} 2016 IEEE.; 2016 IEEE Power and Energy Society General Meeting, PESGM 2016 ; Conference date: 17-07-2016 Through 21-07-2016",

year = "2016",

month = nov,

day = "10",

doi = "10.1109/PESGM.2016.7741847",

language = "英语",

series = "IEEE Power and Energy Society General Meeting",

publisher = "IEEE Computer Society",

booktitle = "2016 IEEE Power and Energy Society General Meeting, PESGM 2016",

}

Ye, H, Ge, Y, Shahidehpour, M & Li, Z 2016, Pricing energy and flexibility in robust Security-Constrained Unit Commitment model. in 2016 IEEE Power and Energy Society General Meeting, PESGM 2016., 7741847, IEEE Power and Energy Society General Meeting, vol. 2016-November, IEEE Computer Society, 2016 IEEE Power and Energy Society General Meeting, PESGM 2016, Boston, United States, 17/07/16. https://doi.org/10.1109/PESGM.2016.7741847

Pricing energy and flexibility in robust Security-Constrained Unit Commitment model. / Ye, Hongxing; Ge, Yinyin; Shahidehpour, Mohammad et al.
2016 IEEE Power and Energy Society General Meeting, PESGM 2016. IEEE Computer Society, 2016. 7741847 (IEEE Power and Energy Society General Meeting; Vol. 2016-November).

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

TY - GEN

T1 - Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

AU - Ye, Hongxing

AU - Ge, Yinyin

AU - Shahidehpour, Mohammad

AU - Li, Zuyi

PY - 2016/11/10

Y1 - 2016/11/10

N2 - Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

AB - Robust Security-Constrained Unit Commitment (RSCUC) becomes one of the successful approaches to handling high penetration level of renewables (RES) in the electricity market. However, RSCUC can only be applied in Reliability Assessment Commitment (RAC) without corresponding energy and reserve price signals in the Day-ahead Market (DAM). In this paper, the locational marginal prices for energy and flexibility are derived according to the latest RSCUC model where the financial binding economic dispatches are proposed. The simulation on a Six-bus system is performed to validate the concepts and findings.

KW - Flexibility

KW - Marginal prices

KW - Robust SCUC

KW - Uncertainty

UR - https://www.scopus.com/pages/publications/85002213653

U2 - 10.1109/PESGM.2016.7741847

DO - 10.1109/PESGM.2016.7741847

M3 - 会议稿件

AN - SCOPUS:85002213653

T3 - IEEE Power and Energy Society General Meeting

BT - 2016 IEEE Power and Energy Society General Meeting, PESGM 2016

PB - IEEE Computer Society

T2 - 2016 IEEE Power and Energy Society General Meeting, PESGM 2016

Y2 - 17 July 2016 through 21 July 2016

ER -

Pricing energy and flexibility in robust Security-Constrained Unit Commitment model

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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Cite this