Title :
On the various design options for ancillary services markets
Author :
Papalexopoulos, Alex ; Singh, Harry
Abstract :
This paper discusses various market design options for procuring, pricing and settling ancillary services via competitive auctions by an independent system operator (ISO). The paper also discusses problems and potential solutions associated with these market design options based on actual experience of operating ISOs. These problems include price volatility and spikes and price reversals for the various components of the ancillary services that can create perverse incentives in the marketplace.
Keywords :
costing; electricity supply industry; power system economics; ancillary services markets; auctions; competitive auctions; electric power deregulation; independent system operator; market design options; price reversal; price volatility; Costs; Electricity supply industry; Electricity supply industry deregulation; ISO; Power system reliability; Pricing; Procurement; Protocols; Real time systems; Spinning;
Conference_Titel :
System Sciences, 2001. Proceedings of the 34th Annual Hawaii International Conference on
Conference_Location :
Maui, HI, USA
Print_ISBN :
0-7695-0981-9
DOI :
10.1109/HICSS.2001.926288
