An Approach to Determine Spinning Reserve Requirements in a Deregulated Electricity Market

To make the energy market reliable and transactions deliverable, transmission owners must provide required ancillary services that are critical to ensure transmission open access, and to maintain an acceptable level of power system security. Spinning reserve is one of the most important ancillary services required to maintain system reliability in case of occurring a contingency. By definition, spinning reserve is the unloaded section of synchronized generation that is able to respond immediately to serve load. Studies indicate that spinning reserve requirements have significant impacts on the energy market. A new spinning reserve market structure is proposed in this paper to best utilize the available resources to meet load and spinning reserve requirements with the transmission constraints while maintaining system security in the context of an energy market