Valuation and allocation of spinning reserve considering power network constraints

To ensure the reliable operation of power systems, adequate reserve capacity must be allocated properly. Considering transmission constraints, reserve capacity from various nodes has different effects on the system reliability. Spinning reserve is procured in this paper responding to the imbalance between load and generation, which influences system reliability level described by the value of lost load (VOLL). The reserve value is derived through VOLL From the perspective of demand and supply equilibrium, a reasonable decision can be made for spinning reserve allocation at each node. Simulation results demonstrate the effectiveness of the proposed scheme.