Title :
Real time ramp model in midwest iso co-optimized energy and ancillary service market design
Author :
Chen, Yonghong ; Gribik, Paul R. ; Zhang, Li ; Merring, Robert ; Gardner, Joe ; Sperry, Kimberly ; Ma, Xingwang
Author_Institution :
Midwest ISO, Carmel, IN, USA
Abstract :
The purpose of this paper is to describe various methods for utilizing ramp capability in the Midwest ISO co-optimized real time energy and ancillary service market design. A critical component of successful market design is to improve market economic efficiency as well as grid reliability. The paper compares studies on various proposed ramp models. Examples on both 5-bus and Midwest ISO system are used to demonstrate their impacts on dispatch results and pricing.
Keywords :
power markets; power system reliability; MIDWEST ISO cooptimized energy; ancillary service market design; grid reliability; market economic efficiency; real time ramp model; Contingency management; Costs; Economic forecasting; Energy management; ISO standards; Power generation economics; Pricing; Real time systems; Resource management; Security; Ancillary services; Co-optimization; Dispatch and scheduling; Locational marginal price; Market design; Reserve; System reliability;
Conference_Titel :
Power & Energy Society General Meeting, 2009. PES '09. IEEE
Conference_Location :
Calgary, AB
Print_ISBN :
978-1-4244-4241-6
DOI :
10.1109/PES.2009.5275836
