Real time ramp model in midwest iso co-optimized energy and ancillary service market design

Author

Chen, Yonghong ; Gribik, Paul R. ; Zhang, Li ; Merring, Robert ; Gardner, Joe ; Sperry, Kimberly ; Ma, Xingwang

Author_Institution

Midwest ISO, Carmel, IN, USA

fYear

2009

Firstpage

1

Lastpage

8

Abstract

The purpose of this paper is to describe various methods for utilizing ramp capability in the Midwest ISO co-optimized real time energy and ancillary service market design. A critical component of successful market design is to improve market economic efficiency as well as grid reliability. The paper compares studies on various proposed ramp models. Examples on both 5-bus and Midwest ISO system are used to demonstrate their impacts on dispatch results and pricing.

Keywords

power markets; power system reliability; MIDWEST ISO cooptimized energy; ancillary service market design; grid reliability; market economic efficiency; real time ramp model; Contingency management; Costs; Economic forecasting; Energy management; ISO standards; Power generation economics; Pricing; Real time systems; Resource management; Security; Ancillary services; Co-optimization; Dispatch and scheduling; Locational marginal price; Market design; Reserve; System reliability;

fLanguage

English

Publisher

ieee

Conference_Titel

Power & Energy Society General Meeting, 2009. PES '09. IEEE

Conference_Location

Calgary, AB

ISSN

1944-9925

Print_ISBN

978-1-4244-4241-6

Type

conf

DOI

10.1109/PES.2009.5275836

Filename

5275836