<script type="text/javascript">
<!--
document.write('<div id="oa_widget"></div>');
document.write('<script type="text/javascript" src="https://beta.openaire.eu/index.php?option=com_openaire&view=widget&format=raw&projectId=undefined&type=result"></script>');
-->
</script>

COPY SCRIPT

For further information contact us at helpdesk@openaire.eu

A Scenario-Oriented Approach to Energy-Reserve Joint Procurement and Pricing

descriptionPublicationkeyboard_double_arrow_right Article , Conference object , Preprint 26 Jul 2021Embargo end date: 01 Jan 2021Publisher:Institute of Electrical and Electronics Engineers (IEEE)Journal:IEEE Transactions on Power Systems, volume 38, pages 411-426 (issn: 0885-8950, eissn: 1558-0679,

Authors: Jiantao Shi; Ye Guo; Lang Tong; Wenchuan Wu; Hongbin Sun;

doi: 10.1109/tpwrs.2022.3165635 , 10.1109/pesgm46819.2021.9637962 , 10.48550/arxiv.2107.08014 , 10.48550/arxiv.2011.04933

arXiv: 2011.04933 , http://arxiv.org/abs/2011.04933 , 2107.08014 , http://arxiv.org/abs/2107.08014

A Scenario-Oriented Approach to Energy-Reserve Joint Procurement and Pricing

- Summary
- Subjects
- Metrics

Abstract

We consider some crucial problems related to the secure and reliable operation of power systems with high renewable penetrations: how much reserve should we procure, how should reserve resources distribute among different locations, and how should we price reserve and charge uncertainty sources. These issues have so far been largely addressed empirically. In this paper, we first develop a scenario-oriented energy-reserve co-optimization model, which directly connects reserve procurement with possible outages and load/renewable power fluctuations without the need for empirical reserve requirements. Accordingly, reserve can be optimally procured system-wide to handle all possible future uncertainties with the minimum expected system total cost. Based on the proposed model, marginal pricing approaches are developed for energy and reserve, respectively. Locational uniform pricing is established for energy, and the similar property is also established for the combination of reserve and re-dispatch. In addition, properties of cost recovery for generators and revenue adequacy for the system operator are also proven.

12 pages, 6 figures

Related Organizations

Tsinghua University
China (People's Republic of)
Cornell University
United States
Cornell University
United States
Tsinghua–Berkeley Shenzhen Institute
China (People's Republic of)
Cornell University
United States

View all View all

Keywords

FOS: Electrical engineering, electronic engineering, information engineering, Systems and Control (eess.SY), Electrical Engineering and Systems Science - Systems and Control

Impact byBIP!

	citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	10
	popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.	Top 10%
	influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).	Average
	impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.	Top 10%