DocumentCode :
827938
Title :
Demand-side reserve offers in joint energy/reserve electricity markets
Author :
Wang, Jing ; Redondo, Nuria Encinas ; Galiana, Francisco D.
Author_Institution :
Dept. of Electr. & Comput. Eng., McGill Univ., Montreal, Canada
Volume :
18
Issue :
4
fYear :
2003
Firstpage :
1300
Lastpage :
1306
Abstract :
We propose a market model that includes demand-side reserve offers and where energy and reserve are jointly dispatched. Generators and consumers can submit offers and bids on five distinct products-energy, upspinning reserve, downspinning reserve, and two kinds of standby reserve. The resources are scheduled and dispatched in a joint auction through a mixed-integer optimization program. The extra scheduling flexibility introduced by demand-side reserve offers can lead to significant gains in economic efficiency. Thus, the results suggest that not only do the consumers increase their profits but, in addition, the market power of the generators is reduced.
Keywords :
integer programming; load dispatching; power generation economics; power generation scheduling; power markets; consumers; demand-side reserve offers; downspinning reserve; economic efficiency; electricity pools; energy dispatch; extra scheduling flexibility; generators; joint auction; joint energy/reserve electricity markets; mixed-integer optimization program; resources scheduling; standby reserve; unit commitment; upspinning reserve; Cost function; Electricity supply industry; Lagrangian functions; Power generation; Power generation economics; Power markets; Power system economics; Spinning; Standby generators; Upper bound;
fLanguage :
English
Journal_Title :
Power Systems, IEEE Transactions on
Publisher :
ieee
ISSN :
0885-8950
Type :
jour
DOI :
10.1109/TPWRS.2003.818593
Filename :
1245550
Link To Document :
بازگشت