Probabilistic spinning reserves with interruptible loads

Effective participation of potential reserve providers such as interruptible loads in the power market environment would reduce the total offer cost. In the proposed market clearing process, both the reliability and performance records of the generators and interruptible loads are taken into consideration. Besides, the method presented can explicitly incorporate the reliability needs in the system optimization process. The proposed cost/benefit analysis is proved to be an efficient tool to achieve a reasonable and optimal reliability level. It is believed that the customers´ interest will be well taken care of and a uniform reliability across all hours can be maintained via a proper reserve management.