Title :
Operating reserve provision in deregulated power markets
Author :
Rashidi-nejad, M. ; Song, Y.H. ; Javidi-Dasht-Bayaz, M.H.
Author_Institution :
Inst. of Power Syst., Brunel Univ., London, UK
Abstract :
This paper presents a complementary approach to evaluate the operating reserve requirements. A combined deterministic and stochastic criterion is investigated as an extent of unit responsibility deterministic method for assessing operating reserve. Economical considerations associated with reliability concerns are applied for developing a cost benefit analysis methodology to derive the capacity reservation prices. Numerical results are reported to show the effectiveness of the proposed methodology.
Keywords :
cost-benefit analysis; electricity supply industry; power system economics; stochastic processes; capacity reservation prices; combined deterministic and stochastic criterion; cost benefit analysis methodology; deregulated power markets; economical considerations; operating reserve provision; operating reserve requirements; reliability; Economic forecasting; Power generation economics; Power markets; Power system economics; Power system protection; Power system reliability; Power system security; Power systems; Pricing; Stochastic processes;
Conference_Titel :
Power Engineering Society Winter Meeting, 2002. IEEE
Print_ISBN :
0-7803-7322-7
DOI :
10.1109/PESW.2002.985226
