Ancillary Service Market design and implementation in North America: From theory to practice

Author

Cheung, Kwok W.

Author_Institution

AREVA T&D Inc., Redmond, WA

fYear

2008

fDate

6-9 April 2008

Firstpage

66

Lastpage

73

Abstract

This paper discusses the design and implementation of ancillary service markets (ASM) in North America. In a deregulated environment, ancillary service markets are the essential components of modern wholesale electricity markets from both economic and system reliability perspectives. A unified framework for competitive electricity market and grid reliability based on the duality theory is discussed. Experiences of applying the theory of optimization to develop practical optimization- based applications for electricity market operation are shared. Specifically, a summary of the ancillary service markets of several US electricity markets including ISO New England, New York ISO, PJM and Midwest ISO is provided.

Keywords

duality (mathematics); power grids; power markets; power system economics; power system reliability; North America; US electricity markets; ancillary service market design; duality theory; economic perspectives; grid reliability; system reliability perspectives; wholesale electricity markets; Design optimization; Electricity supply industry; Electricity supply industry deregulation; ISO; North America; Power system economics; Power system reliability; Power system security; Pricing; Reliability theory; Ancillary services; co-optimization; deregulation; electricity market; market operation; standard market design; system reliability;

fLanguage

English

Publisher

ieee

Conference_Titel

Electric Utility Deregulation and Restructuring and Power Technologies, 2008. DRPT 2008. Third International Conference on

Conference_Location

Nanjuing

Print_ISBN

978-7-900714-13-8

Electronic_ISBN

978-7-900714-13-8

Type

conf

DOI

10.1109/DRPT.2008.4523381

Filename

4523381