DocumentCode :
1897610
Title :
Short run marginal cost pricing for fast responses on the Smart Grid
Author :
Lively, M.B.
Author_Institution :
Gaithersburg, MD 20879 USA
fYear :
2010
fDate :
19-21 Jan. 2010
Firstpage :
1
Lastpage :
6
Abstract :
The Smart Grid includes automatic responses to events on the grid, responses such as demand side management, the operation of storage devices, and the control of reactive power sources. Many of these actions will involve one party obtaining automated assistance from another party, often in a fraction of a second, and generally in time periods shorter than the settlement periods of conventional ISO auctions. Wide Open Load Following (WOLF) is a short interval formulary auction for unscheduled flows of electricity that produces short run marginal cost prices. WOLF can supplement the conventional ISO auctions or can be slightly enhanced for use in cashing out the unscheduled flows on systems that do not have a conventional bid based auctions. The independent variables in the WOLF formulas are system measurements such a frequency, inadvertent interchange, line flow, and voltage. The WOLF formulas can set prices as often as these system measurements are made.
Keywords :
power system economics; pricing; smart power grids; ISO auctions; WOLF formulas; bid based auctions; demand side management; reactive power control; short interval formulary auction; short run marginal cost pricing; smart grid; storage devices; wide open load following; Automatic control; Costs; Energy management; Fluid flow measurement; Frequency measurement; ISO; Pricing; Reactive power control; Smart grids; Storage automation; Demand Side Management; Dynamic Pricing; Inadvertent Interchange; Independent Power Production; Intermittency; Loop Flow; Reactive Power; Wind Power;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Innovative Smart Grid Technologies (ISGT), 2010
Conference_Location :
Gaithersburg, MD
Print_ISBN :
978-1-4244-6264-3
Electronic_ISBN :
978-1-4244-6333-6
Type :
conf
DOI :
10.1109/ISGT.2010.5434779
Filename :
5434779
Link To Document :
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