Energy and contingency reserves markets under restructured electricity environment

Author

Rashidinejad, M. ; Gharaveisi, A.A. ; Fotuhi-Firoozabad, M. ; Shojaee, M.

Author_Institution

Energy Center of Int. Res. Center for Sci. & High Technol., Mahan, Iran

fYear

2006

fDate

20-22 March 2006

Firstpage

1

Lastpage

6

Abstract

Electricity industry is ongoing towards reregulation worldwide. Some new market issues that experienced in other commodities markets are suggested to be exercised in electricity markets. Electricity and ancillary services pricing under different schemes are such issues. Pricing mechanism can be applied via several sequential markets. A day-ahead market associated with joint energy and ancillary services dispatch is used as a benchmark for contingency reserves option pricing. This paper proposed a new methodology aimed to derive the option pricing for contingency reserves as a major part of ancillary services in restructured power systems.

Keywords

power markets; power system planning; pricing; contingency reserves markets; electricity markets; energy markets; pricing; re-regulation; restructured electricity industry; restructured power systems; Contracts; Cost function; Electricity; ISO; Pricing; Spinning; Strontium; AGC; Reserve Option Contracts; ancillary services; power market; re-regulation;

fLanguage

English

Publisher

ieee

Conference_Titel

GCC Conference (GCC), 2006 IEEE

Conference_Location

Manama

Print_ISBN

978-0-7803-9590-9

Electronic_ISBN

978-0-7803-9591-6

Type

conf

DOI

10.1109/IEEEGCC.2006.5686226

Filename

5686226