Alternative design options for a real-time balancing market

Author

Papalexopoulos, Alex ; Singh, Harry

Author_Institution

ECCO Int., San Francisco, CA, USA

fYear

2001

fDate

2001

Firstpage

272

Lastpage

277

Abstract

This paper discusses alternative design options for a real-time balancing market operated by an independent system operator (ISO). The market design can vary based on a number of criteria such as the role of centralized dispatch, the incidence of price overlaps in bids, the use of penalties, the representation of the transmission network, and the effects of ramping constraints. The paper discusses how price overlaps can be eliminated and how market participants can trade imbalances at ex-post prices in the forward market

Keywords

costing; electricity supply industry; power system economics; alternative design options; bid price overlaps; centralized dispatch; ex-post prices; forward market; imbalances trading; independent system operator; instructed deviations; market structure; penalties; price overlaps elimination; ramping constraints; real-time balancing market; transmission network representation; uninstructed deviations; Aggregates; Costs; Energy management; Forward contracts; ISO; Power system management; Proposals; Real time systems; Resource management; Supply and demand;

fLanguage

English

Publisher

ieee

Conference_Titel

Power Industry Computer Applications, 2001. PICA 2001. Innovative Computing for Power - Electric Energy Meets the Market. 22nd IEEE Power Engineering Society International Conference on

Conference_Location

Sydney, NSW

Print_ISBN

0-7803-6681-6

Type

conf

DOI

10.1109/PICA.2001.932361

Filename

932361