Price-based ramp-rate model for dynamic dispatch and unit commitment

The ramp-rate limits of generators can significantly impact power system operation. As a result, they need to be properly modeled in power system production simulations. This paper presents a price-based ramp-rate model. This model is particularly suited for application to power system scheduling models that are based on dual formulation (i.e. price-based). In this model, the impact of binding ramp-rate limits is reflected via the hourly marginal ramp-rate values ($/MW-Hr) of generators. In the paper, the proposed ramp-rate model is applied to price-based dynamic dispatch and price-based unit commitment. Simple examples are used throughout the paper to illustrate the concept of the proposed model